The case pertains to 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 Corporate Debtor failed to file a reply despite multiple opportunities granted by the court.
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 Corporate Debtor is a company incorporated on 08.01.2014. The Operational Creditor and the Corporate Debtor entered into a business agreement on 17.01.2014 for providing services. The Operational Creditor raised invoices totaling Rs. 57,022,183/-, out of which the Corporate Debtor made part payments of Rs. 38,141,950/-, leaving a balance of Rs. 1,88,80,233/- along with interest of Rs. 82,44,567/-. The Operational Creditor issued a demand notice on 26.05.2018. The Corporate Debtor admitted liability via email dated
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M/s. Ikontel S…
The Petitioner and the…
The case pertains to 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 Corporate Debtor failed to file a reply despite multiple opportunities granted by the court.
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 Corporate Debtor is a company incorporated on 08.01.2014. The Operational Creditor and the Corporate Debtor entered into a business agreement on 17.01.2014 for providing services. The Operational Creditor raised invoices totaling Rs. 57,022,183/-, out of which the Corporate Debtor made part payments of Rs. 38,141,950/-, leaving a balance of Rs. 1,88,80,233/- along with interest of Rs. 82,44,567/-. The Operational Creditor issued a demand notice on 26.05.2018. The Corporate Debtor admitted liability via email dated
…M/s. Ikontel S…
The Petitioner and the…