Avbodh Medicare LLP filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Felix Healthcare Pvt. Ltd. The petition was initially filed with NCLT Allahabad but was later transferred to NCLT New Delhi due to jurisdictional issues. The claim arises from a license deed dated July 7, 2015, where Avbodh Medicare was to provide physiotherapy services in space provided by Felix Healthcare, with a revenue-sharing agreement. Disputes arose regarding payments and the quality of services provided.
Avbodh Medicare LLP (Operational Creditor) and Felix Healthcare Pvt. Ltd. (Corporate Debtor) entered into a license deed on July 7, 2015, where Avbodh was to provide physiotherapy services in space provided by Felix, with a revenue-sharing agreement. Avbodh deposited Rs. 10 Lakhs as a security deposit. Disputes arose regarding payments, with Avbodh claiming Felix defaulted on payments since 2016. Avbodh issued a notice of breach on April 11, 2018, which Felix replied to on June 5, 2018, citing a lack of qualified staff. Avbodh terminated the license deed on July 4, 2018, demanding the security deposit back. Felix initiated arbitration proceedings, and an award was passed against Avbodh on April 27, 2019, for Rs. 34,63,512. Avbodh filed a Section 9 petition with NCLT
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Avbodh Medicare LLP and…
Avbodh Medicare claims…
Avbodh Medicare LLP filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Felix Healthcare Pvt. Ltd. The petition was initially filed with NCLT Allahabad but was later transferred to NCLT New Delhi due to jurisdictional issues. The claim arises from a license deed dated July 7, 2015, where Avbodh Medicare was to provide physiotherapy services in space provided by Felix Healthcare, with a revenue-sharing agreement. Disputes arose regarding payments and the quality of services provided.
Avbodh Medicare LLP (Operational Creditor) and Felix Healthcare Pvt. Ltd. (Corporate Debtor) entered into a license deed on July 7, 2015, where Avbodh was to provide physiotherapy services in space provided by Felix, with a revenue-sharing agreement. Avbodh deposited Rs. 10 Lakhs as a security deposit. Disputes arose regarding payments, with Avbodh claiming Felix defaulted on payments since 2016. Avbodh issued a notice of breach on April 11, 2018, which Felix replied to on June 5, 2018, citing a lack of qualified staff. Avbodh terminated the license deed on July 4, 2018, demanding the security deposit back. Felix initiated arbitration proceedings, and an award was passed against Avbodh on April 27, 2019, for Rs. 34,63,512. Avbodh filed a Section 9 petition with NCLT
…Avbodh Medicare LLP and…
Avbodh Medicare claims…