The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Gupshup Technology India Pvt Ltd (Operational Creditor/Petitioner) against M/s. Ikontel Solutions Pvt Ltd (Corporate Debtor/Respondent) seeking to initiate Corporate Insolvency Resolution Process. The Operational Creditor claims a default amount of Rs.2,71,24,800/- as of 30.04.2016. The Petitioner and Respondent entered into a business agreement on 17.01.2014 for providing services. The Petitioner alleges that the Respondent intentionally misled them regarding their registration status with the ROC. The Petitioner raised invoices totaling Rs.57,022,183/-, out of which the Respondent made part payment of Rs.38,141,950/-, leaving a balance of Rs.1,88,80,233/- along
…M/s. Gupshup Technology India Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Ikontel Solutions Pvt Ltd (Corporate Debtor) for a default amount of Rs.2,71,24,800/- as of 30.04.2016. The parties entered into a business agreement on 17.01.2014. The Operational Creditor claims the Corporate Debtor misled them regarding ROC registration. Invoices totaling Rs.57,022,183/- were raised, with part payment of Rs.38,141,950/-, leaving a balance of Rs.1,88,80,233/- plus interest of Rs.82,44,567/-. The Corporate Debtor failed to clear the outstanding amount despite reminders and a demand notice dated 26.05.2018. The Corporate Debtor admitted liability and proposed a payment plan, which was not fulfilled. A
…Sign in to view the parties.
Petitioner and…
The default am…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Gupshup Technology India Pvt Ltd (Operational Creditor/Petitioner) against M/s. Ikontel Solutions Pvt Ltd (Corporate Debtor/Respondent) seeking to initiate Corporate Insolvency Resolution Process. The Operational Creditor claims a default amount of Rs.2,71,24,800/- as of 30.04.2016. The Petitioner and Respondent entered into a business agreement on 17.01.2014 for providing services. The Petitioner alleges that the Respondent intentionally misled them regarding their registration status with the ROC. The Petitioner raised invoices totaling Rs.57,022,183/-, out of which the Respondent made part payment of Rs.38,141,950/-, leaving a balance of Rs.1,88,80,233/- along
…M/s. Gupshup Technology India Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Ikontel Solutions Pvt Ltd (Corporate Debtor) for a default amount of Rs.2,71,24,800/- as of 30.04.2016. The parties entered into a business agreement on 17.01.2014. The Operational Creditor claims the Corporate Debtor misled them regarding ROC registration. Invoices totaling Rs.57,022,183/- were raised, with part payment of Rs.38,141,950/-, leaving a balance of Rs.1,88,80,233/- plus interest of Rs.82,44,567/-. The Corporate Debtor failed to clear the outstanding amount despite reminders and a demand notice dated 26.05.2018. The Corporate Debtor admitted liability and proposed a payment plan, which was not fulfilled. A
…Petitioner and…
The default am…