Lumi Vietnam Jsc, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Hogar Controls India Pvt Ltd, the Corporate Debtor, for defaulting on a payment of Rs. 4,73,79,933/-. Lumi Vietnam claimed to have provided software programs to Hogar Controls based on an order placed in 2017, delivering the software between 2018 and 2021. Hogar Controls made a partial payment of USD 30,000 but failed to clear the outstanding balance. Hogar Controls disputed the debt, alleging quality issues with the software and claiming that the software was not originally developed by Lumi Vietnam. They also claimed cyber-attacks were launched by the Operational Creditor. The NCLT considered the arguments and evidence presented by both
…Lumi Vietnam Joint Stock Company (Operational Creditor) is a software developer. On 12.10.2017, Hogar Controls India Pvt. Ltd (Corporate Debtor) placed an order for the delivery of software for INR 5,38,20,053/-. Between 2018 and 2021, Lumi Vietnam handed over the software. Lumi Vietnam raised 5 commercial invoices between 2018 and 2021. Hogar Controls made a part payment of USD 30,000. Lumi Vietnam sent emails to Hogar Controls to clear the dues. Hogar Controls claimed no sum was payable. Hogar Controls disputed the nature of the software. Hogar Controls claimed the source code was not original. Hogar Controls conducted an audit that resulted in only 6% of the code being original. Hogar Controls rejected the invoices. Hogar Controls sent a notice claiming breach of
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Hogar Controls India Pvt Ltd placed an order…
Between 2018 and 2021, Lumi Vietnam Jsc…
Lumi Vietnam Jsc, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Hogar Controls India Pvt Ltd, the Corporate Debtor, for defaulting on a payment of Rs. 4,73,79,933/-. Lumi Vietnam claimed to have provided software programs to Hogar Controls based on an order placed in 2017, delivering the software between 2018 and 2021. Hogar Controls made a partial payment of USD 30,000 but failed to clear the outstanding balance. Hogar Controls disputed the debt, alleging quality issues with the software and claiming that the software was not originally developed by Lumi Vietnam. They also claimed cyber-attacks were launched by the Operational Creditor. The NCLT considered the arguments and evidence presented by both
…Lumi Vietnam Joint Stock Company (Operational Creditor) is a software developer. On 12.10.2017, Hogar Controls India Pvt. Ltd (Corporate Debtor) placed an order for the delivery of software for INR 5,38,20,053/-. Between 2018 and 2021, Lumi Vietnam handed over the software. Lumi Vietnam raised 5 commercial invoices between 2018 and 2021. Hogar Controls made a part payment of USD 30,000. Lumi Vietnam sent emails to Hogar Controls to clear the dues. Hogar Controls claimed no sum was payable. Hogar Controls disputed the nature of the software. Hogar Controls claimed the source code was not original. Hogar Controls conducted an audit that resulted in only 6% of the code being original. Hogar Controls rejected the invoices. Hogar Controls sent a notice claiming breach of
…Hogar Controls India Pvt Ltd placed an order…
Between 2018 and 2021, Lumi Vietnam Jsc…