Radiant Digitek Network Limited, the Operational Creditor, filed a Company Petition (CP No. 23/9/JPR/2023) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bhoomika Media Initiative Private Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to a default in the repayment of an operational debt amounting to Rs. 2,90,56,000/-. The Operational Creditor provides cable TV signal distribution services, which the Corporate Debtor availed for its channel, AlTV. The Corporate Debtor was required to pay channel placement charges. The Corporate Debtor made lump sum payments initially but later defaulted, leading to the petition.
Radiant Digitek Network Limited (Operational Creditor) provided cable TV signal distribution services to Bhoomika Media Initiative Private Limited (Corporate Debtor) for its channel, AlTV. The Corporate Debtor was obligated to pay channel placement charges. Initially, the Corporate Debtor made lump sum payments, but later defaulted. As of 31.03.2023, an operational debt of Rs. 2,90,56,000/- was outstanding. The Operational Creditor sent emails on 02.01.2023 and 04.01.2023 seeking payment, which the Corporate Debtor responded to on 23.01.2023, acknowledging the debt but disputing the amount. The Corporate Debtor made a last payment of Rs. 3,00,000/- on 04.04.2022. The Operational Creditor issued a demand notice on 31.03.2023 under Section 8 of the IBC, which the
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Bhoomika Media…
Corporate Debtor made a…
Radiant Digitek Network Limited, the Operational Creditor, filed a Company Petition (CP No. 23/9/JPR/2023) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bhoomika Media Initiative Private Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to a default in the repayment of an operational debt amounting to Rs. 2,90,56,000/-. The Operational Creditor provides cable TV signal distribution services, which the Corporate Debtor availed for its channel, AlTV. The Corporate Debtor was required to pay channel placement charges. The Corporate Debtor made lump sum payments initially but later defaulted, leading to the petition.
Radiant Digitek Network Limited (Operational Creditor) provided cable TV signal distribution services to Bhoomika Media Initiative Private Limited (Corporate Debtor) for its channel, AlTV. The Corporate Debtor was obligated to pay channel placement charges. Initially, the Corporate Debtor made lump sum payments, but later defaulted. As of 31.03.2023, an operational debt of Rs. 2,90,56,000/- was outstanding. The Operational Creditor sent emails on 02.01.2023 and 04.01.2023 seeking payment, which the Corporate Debtor responded to on 23.01.2023, acknowledging the debt but disputing the amount. The Corporate Debtor made a last payment of Rs. 3,00,000/- on 04.04.2022. The Operational Creditor issued a demand notice on 31.03.2023 under Section 8 of the IBC, which the
…Bhoomika Media…
Corporate Debtor made a…