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 in the NCLT Allahabad Bench but was later transferred to the NCLT New Delhi Bench due to jurisdictional issues. The operational creditor, Avbodh Medicare LLP, claimed that Felix Healthcare Pvt. Ltd. defaulted on payments for physiotherapy services provided under a license agreement. The corporate debtor, Felix Healthcare Pvt. Ltd., contested the petition, citing pre-existing disputes, deficiencies in services, and an arbitration award in their favor.
Avbodh Medicare LLP (Operational Creditor) and Felix Healthcare Pvt. Ltd. (Corporate Debtor) entered into a license agreement on July 7, 2015, where Avbodh was to provide physiotherapy services at Felix's facility. Dr. Amar Singh, representing Avbodh, and Dr. Rashmi Gupta, representing Felix, signed the agreement. Avbodh was to set up a physiotherapy center, and Felix was to provide the space. The revenue was to be shared between the parties. Avbodh claims Felix defaulted on payments since 2016. Avbodh issued a notice on April 11, 2018, for breach of contract, and Felix replied on June 5, 2018, citing a lack of qualified staff. Avbodh terminated the agreement on July 4, 2018, and demanded the security deposit. Felix initiated arbitration proceedings, and an award was
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Avbodh Medicare LLP and Felix Healthcare Pvt.…
Avbodh Medicare LLP claims that Felix Healthcare…
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 in the NCLT Allahabad Bench but was later transferred to the NCLT New Delhi Bench due to jurisdictional issues. The operational creditor, Avbodh Medicare LLP, claimed that Felix Healthcare Pvt. Ltd. defaulted on payments for physiotherapy services provided under a license agreement. The corporate debtor, Felix Healthcare Pvt. Ltd., contested the petition, citing pre-existing disputes, deficiencies in services, and an arbitration award in their favor.
Avbodh Medicare LLP (Operational Creditor) and Felix Healthcare Pvt. Ltd. (Corporate Debtor) entered into a license agreement on July 7, 2015, where Avbodh was to provide physiotherapy services at Felix's facility. Dr. Amar Singh, representing Avbodh, and Dr. Rashmi Gupta, representing Felix, signed the agreement. Avbodh was to set up a physiotherapy center, and Felix was to provide the space. The revenue was to be shared between the parties. Avbodh claims Felix defaulted on payments since 2016. Avbodh issued a notice on April 11, 2018, for breach of contract, and Felix replied on June 5, 2018, citing a lack of qualified staff. Avbodh terminated the agreement on July 4, 2018, and demanded the security deposit. Felix initiated arbitration proceedings, and an award was
…Avbodh Medicare LLP and Felix Healthcare Pvt.…
Avbodh Medicare LLP claims that Felix Healthcare…