CBRE South Asia Pvt. Ltd., the Operational Creditor/Applicant, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Man Reality Ltd., the Corporate Debtor/Respondent. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services provided under a work order. The Corporate Debtor contested the application, asserting the existence of a pre-existing dispute regarding the quality and performance of the services provided by the Operational Creditor.
CBRE South Asia Pvt. Ltd. (Operational Creditor) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Man Reality Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). CBRE claimed unpaid operational debt of Rs. 56,11,436.15/- for services provided under a work order. Man Reality Ltd. was incorporated on 22.07.2010. CBRE provided real estate advisory, facility management, and project management consultancy services. Man Reality Ltd. undertook construction of "One park avenue-1" and "One park avenue-6", appointing CBRE as Project Management Consultant (PMC). CBRE and Man Reality Ltd. worked on the basis of Work Order No. WOJMRL/00246/17-18 DA dated 06.10.2017. CBRE raised invoices
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Man Reality Ltd. was…
Work Order No.…
CBRE South Asia Pvt. Ltd., the Operational Creditor/Applicant, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Man Reality Ltd., the Corporate Debtor/Respondent. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services provided under a work order. The Corporate Debtor contested the application, asserting the existence of a pre-existing dispute regarding the quality and performance of the services provided by the Operational Creditor.
CBRE South Asia Pvt. Ltd. (Operational Creditor) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Man Reality Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). CBRE claimed unpaid operational debt of Rs. 56,11,436.15/- for services provided under a work order. Man Reality Ltd. was incorporated on 22.07.2010. CBRE provided real estate advisory, facility management, and project management consultancy services. Man Reality Ltd. undertook construction of "One park avenue-1" and "One park avenue-6", appointing CBRE as Project Management Consultant (PMC). CBRE and Man Reality Ltd. worked on the basis of Work Order No. WOJMRL/00246/17-18 DA dated 06.10.2017. CBRE raised invoices
…Man Reality Ltd. was…
Work Order No.…