Arm Digital Media Private Limited, the Applicant/Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against Boltt Sports Technologies Private Limited, the Respondent. The applicant provided digital agency services to the respondent, and an agreement was entered on 25.07.2016 for Digital PR Services. The applicant raised 25 invoices from 03.09.2016 to 24.07.2017 for a total amount of Rs. 71,68,692, which the Corporate Debtor failed to pay in time. A Commercial Settlement Agreement was entered on 31.08.2017, where the respondent agreed to pay the dues through post-dated cheques in 6 installments. The first four payments totaling Rs. 21,00,000 were received,
…Arm Digital Media Private Limited (Operational Creditor) provided digital agency services to Boltt Sports Technologies Private Limited (Corporate Debtor). An 'Agreement for Digital PR Services' was entered on 25.07.2016. The terms included a retainer fee of Rs. 3 lakh per month and 10% of media buy as agency commission, payable within 30 days of invoice receipt. The applicant raised 25 invoices from 03.09.2016 to 24.07.2017, totaling Rs. 71,68,692, which remained unpaid. A 'Commercial Settlement Agreement' was made on 31.08.2017, with the respondent agreeing to pay dues via 6 post-dated cheques. The cheque dates were 10th October 2017, 10th November 2017, 10th December 2017, 10th January 2018, 10th February 2018, and 10th March 2018. The first four payments (Rs.
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Applicant and…
Applicant raised 25 invoices from 03.09.2016…
Arm Digital Media Private Limited, the Applicant/Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against Boltt Sports Technologies Private Limited, the Respondent. The applicant provided digital agency services to the respondent, and an agreement was entered on 25.07.2016 for Digital PR Services. The applicant raised 25 invoices from 03.09.2016 to 24.07.2017 for a total amount of Rs. 71,68,692, which the Corporate Debtor failed to pay in time. A Commercial Settlement Agreement was entered on 31.08.2017, where the respondent agreed to pay the dues through post-dated cheques in 6 installments. The first four payments totaling Rs. 21,00,000 were received,
…Arm Digital Media Private Limited (Operational Creditor) provided digital agency services to Boltt Sports Technologies Private Limited (Corporate Debtor). An 'Agreement for Digital PR Services' was entered on 25.07.2016. The terms included a retainer fee of Rs. 3 lakh per month and 10% of media buy as agency commission, payable within 30 days of invoice receipt. The applicant raised 25 invoices from 03.09.2016 to 24.07.2017, totaling Rs. 71,68,692, which remained unpaid. A 'Commercial Settlement Agreement' was made on 31.08.2017, with the respondent agreeing to pay dues via 6 post-dated cheques. The cheque dates were 10th October 2017, 10th November 2017, 10th December 2017, 10th January 2018, 10th February 2018, and 10th March 2018. The first four payments (Rs.
…Applicant and…
Applicant raised 25 invoices from 03.09.2016…