The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Lumi Vietnam Joint Stock Company (Operational Creditor) against Hogar Controls India Pvt. Ltd (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted in making payment of Rs. 4,73,79,933/- for software programs delivered. The Corporate Debtor disputed the debt, alleging quality issues with the software and claiming a pre-existing dispute.
Lumi Vietnam Joint Stock Company (Operational Creditor) filed a petition against Hogar Controls India Pvt. Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 4,73,79,933/-. The Operational Creditor, a software developer, alleged that the Corporate Debtor had placed an order on 2017-10-12 for software programs for INR 5,38,20,053/- and that the software was delivered between 2018 and 2021. Five commercial invoices were raised between 2018-05-17 and 2021-04-26. The Corporate Debtor made a partial payment of USD 30,000 (INR 22,09,923/-). The Corporate Debtor disputed the debt, claiming the software was not originally developed by the Operational Creditor and alleging quality issues. The Corporate Debtor claimed
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Lumi Vietnam Joint Stock Company (Operational Creditor) against Hogar Controls India Pvt. Ltd (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted in making payment of Rs. 4,73,79,933/- for software programs delivered. The Corporate Debtor disputed the debt, alleging quality issues with the software and claiming a pre-existing dispute.
Lumi Vietnam Joint Stock Company (Operational Creditor) filed a petition against Hogar Controls India Pvt. Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 4,73,79,933/-. The Operational Creditor, a software developer, alleged that the Corporate Debtor had placed an order on 2017-10-12 for software programs for INR 5,38,20,053/- and that the software was delivered between 2018 and 2021. Five commercial invoices were raised between 2018-05-17 and 2021-04-26. The Corporate Debtor made a partial payment of USD 30,000 (INR 22,09,923/-). The Corporate Debtor disputed the debt, claiming the software was not originally developed by the Operational Creditor and alleging quality issues. The Corporate Debtor claimed
…Corporate Debtor placed…
Operational Creditor…