CBRE South Asia Pvt. Ltd., the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Man Global Ltd., the Corporate Debtor, due to unpaid operational debt. The Corporate Debtor disputed the debt, claiming deficiencies in the services provided by the Operational Creditor and alleging a pre-existing dispute. The Operational Creditor was engaged as a Project Management Consultant (PMC) for the Corporate Debtor's project, 'Man Opus'. Disputes arose regarding the quality of services, delays, and the billing process. The Corporate Debtor terminated the work order, citing deficiencies and lapses in service. The Operational Creditor claimed that the
…CBRE South Asia Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Man Global Ltd. (Corporate Debtor). CBRE was engaged as a Project Management Consultant (PMC) for Man Global's project 'Man Opus'. CBRE claimed an outstanding debt of Rs. 34,25,931.66/- for services provided. Man Global disputed the debt, alleging deficiencies in CBRE's services, delays in project completion, and issues with the billing process. Man Global terminated the work order with CBRE, citing these deficiencies. CBRE contended that the termination was an excuse to delay payment. Man Global claimed that CBRE's team was incompetent and caused financial losses and damage to
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Man Global Ltd. was…
Man Global Ltd.…
CBRE South Asia Pvt. Ltd., the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Man Global Ltd., the Corporate Debtor, due to unpaid operational debt. The Corporate Debtor disputed the debt, claiming deficiencies in the services provided by the Operational Creditor and alleging a pre-existing dispute. The Operational Creditor was engaged as a Project Management Consultant (PMC) for the Corporate Debtor's project, 'Man Opus'. Disputes arose regarding the quality of services, delays, and the billing process. The Corporate Debtor terminated the work order, citing deficiencies and lapses in service. The Operational Creditor claimed that the
…CBRE South Asia Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Man Global Ltd. (Corporate Debtor). CBRE was engaged as a Project Management Consultant (PMC) for Man Global's project 'Man Opus'. CBRE claimed an outstanding debt of Rs. 34,25,931.66/- for services provided. Man Global disputed the debt, alleging deficiencies in CBRE's services, delays in project completion, and issues with the billing process. Man Global terminated the work order with CBRE, citing these deficiencies. CBRE contended that the termination was an excuse to delay payment. Man Global claimed that CBRE's team was incompetent and caused financial losses and damage to
…Man Global Ltd. was…
Man Global Ltd.…