The case involves a petition filed by Outdoor Advertising Professionals (India) Private Limited (OAPL), the Operational Creditor, against Graphene Media Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor defaulted on payments for services rendered related to out-of-home advertising campaigns. The Corporate Debtor acknowledged the debt initially but later raised disputes regarding the services provided.
Outdoor Advertising Professionals (India) Private Limited (OAPL), the Operational Creditor, provided out-of-home advertising services to Graphene Media Private Limited, the Corporate Debtor, for a client, Canara Robeco, between February and April 2018. OAPL raised four invoices totaling Rs. 2,27,05,160/- including GST. The Corporate Debtor initially acknowledged the debt and even made part payments in two installments as per a Settlement Agreement executed in June 2018. However, the Corporate Debtor later defaulted on the third installment and raised disputes regarding the services provided, claiming deficiencies and lack of supporting documentation. The Operational Creditor issued a demand notice under Section 8 of the IBC, which the Corporate Debtor responded to by
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OAPL provided services to Graphene Media for…
OAPL raised four invoices amounting to Rs.…
The case involves a petition filed by Outdoor Advertising Professionals (India) Private Limited (OAPL), the Operational Creditor, against Graphene Media Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor defaulted on payments for services rendered related to out-of-home advertising campaigns. The Corporate Debtor acknowledged the debt initially but later raised disputes regarding the services provided.
Outdoor Advertising Professionals (India) Private Limited (OAPL), the Operational Creditor, provided out-of-home advertising services to Graphene Media Private Limited, the Corporate Debtor, for a client, Canara Robeco, between February and April 2018. OAPL raised four invoices totaling Rs. 2,27,05,160/- including GST. The Corporate Debtor initially acknowledged the debt and even made part payments in two installments as per a Settlement Agreement executed in June 2018. However, the Corporate Debtor later defaulted on the third installment and raised disputes regarding the services provided, claiming deficiencies and lack of supporting documentation. The Operational Creditor issued a demand notice under Section 8 of the IBC, which the Corporate Debtor responded to by
…OAPL provided services to Graphene Media for…
OAPL raised four invoices amounting to Rs.…