Raman Enterprises, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Mediaman Infotech Private Limited, the Corporate Debtor. The petition arose from a transaction where Raman Enterprises purchased digital secure anti-virus from Mediaman Infotech and subsequently sold it back. Disputes arose regarding the payment and alleged pre-existing disputes.
Raman Enterprises (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Mediaman Infotech Private Limited (Corporate Debtor). Raman Enterprises purchased 50,000 units of digital secure anti-virus from Mediaman Infotech in December 2016 for Rs. 50,00,000/-. Raman Enterprises paid this amount via cheque. Later, Raman Enterprises claimed it could not sell the anti-virus and, by mutual consent, sold it back to Mediaman Infotech on 26.05.2017 for the same amount (Rs. 50,00,000/-). Mediaman Infotech paid Rs. 10,00,000/- via RTGS in installments between 30.05.2017 and 06.06.2017. Mediaman Infotech also made part payments of Rs. 14,00,000/-. Raman Enterprises alleged that Mediaman Infotech issued cheques that were dishonored. After
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Raman Enterprises purchased 50,000 units of…
Raman Enterprises sold…
Raman Enterprises, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Mediaman Infotech Private Limited, the Corporate Debtor. The petition arose from a transaction where Raman Enterprises purchased digital secure anti-virus from Mediaman Infotech and subsequently sold it back. Disputes arose regarding the payment and alleged pre-existing disputes.
Raman Enterprises (Operational Creditor) filed a petition under Section 9 of the IBC to initiate CIRP against Mediaman Infotech Private Limited (Corporate Debtor). Raman Enterprises purchased 50,000 units of digital secure anti-virus from Mediaman Infotech in December 2016 for Rs. 50,00,000/-. Raman Enterprises paid this amount via cheque. Later, Raman Enterprises claimed it could not sell the anti-virus and, by mutual consent, sold it back to Mediaman Infotech on 26.05.2017 for the same amount (Rs. 50,00,000/-). Mediaman Infotech paid Rs. 10,00,000/- via RTGS in installments between 30.05.2017 and 06.06.2017. Mediaman Infotech also made part payments of Rs. 14,00,000/-. Raman Enterprises alleged that Mediaman Infotech issued cheques that were dishonored. After
…Raman Enterprises purchased 50,000 units of…
Raman Enterprises sold…