The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, by Swiftmail Communications Limited, an operational creditor, against Iriisnet Communication Private Limited, the corporate debtor. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor for an alleged default in payment of operational debt.
Swiftmail Communications Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Iriisnet Communication Private Limited, the corporate debtor, for initiation of CIRP. The operational creditor claimed a total debt of INR 9,87,432.00, including principal and interest. The principal amount of the debt was INR 622,081.00. The operational creditor claimed that a demand notice was sent to the corporate debtor's registered email ID and to the emails of the suspended Board of Directors. The corporate debtor did not appear before the court. The application was filed on 23.12.2019. The court noted that the minimum threshold for triggering CIRP was Rupees one lakh at the time of filing the application.
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Swiftmail Communications Limited filed an…
The applicant…
The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, by Swiftmail Communications Limited, an operational creditor, against Iriisnet Communication Private Limited, the corporate debtor. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor for an alleged default in payment of operational debt.
Swiftmail Communications Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Iriisnet Communication Private Limited, the corporate debtor, for initiation of CIRP. The operational creditor claimed a total debt of INR 9,87,432.00, including principal and interest. The principal amount of the debt was INR 622,081.00. The operational creditor claimed that a demand notice was sent to the corporate debtor's registered email ID and to the emails of the suspended Board of Directors. The corporate debtor did not appear before the court. The application was filed on 23.12.2019. The court noted that the minimum threshold for triggering CIRP was Rupees one lakh at the time of filing the application.
Swiftmail Communications Limited filed an…
The applicant…