The case involves an application filed by Balaji Formalin Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mega Process Technology Private Limited, the Corporate Debtor, for non-payment of an operational debt amounting to Rs. 1,26,96,800/- inclusive of IGST. The Operational Creditor provided project identification and local assistance services to the Corporate Debtor for a diary project of Panchmahal District Co-operative Milk Producers Union Limited (PDCMPUL) based on an association agreement dated 03.10.2015, where the Operational Creditor was to receive a 5% commission on the order value. The Operational Creditor claims that the services were
…Balaji Formalin Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mega Process Technology Private Limited (Corporate Debtor) for non-payment of an operational debt of Rs. 1,26,96,800/-. The Operational Creditor provided services to the Corporate Debtor for a diary project of Panchmahal District Co-operative Milk Producers Union Limited (PDCMPUL) based on an agreement dated 03.10.2015, where the Operational Creditor was to receive a 5% commission. The Operational Creditor claims that the services were rendered, and invoices were raised on 23.01.2018. The Corporate Debtor acknowledged the debt through balance confirmations for the
…Sign in to view the parties.
Association agreement between the Operational…
The Operational…
The case involves an application filed by Balaji Formalin Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mega Process Technology Private Limited, the Corporate Debtor, for non-payment of an operational debt amounting to Rs. 1,26,96,800/- inclusive of IGST. The Operational Creditor provided project identification and local assistance services to the Corporate Debtor for a diary project of Panchmahal District Co-operative Milk Producers Union Limited (PDCMPUL) based on an association agreement dated 03.10.2015, where the Operational Creditor was to receive a 5% commission on the order value. The Operational Creditor claims that the services were
…Balaji Formalin Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mega Process Technology Private Limited (Corporate Debtor) for non-payment of an operational debt of Rs. 1,26,96,800/-. The Operational Creditor provided services to the Corporate Debtor for a diary project of Panchmahal District Co-operative Milk Producers Union Limited (PDCMPUL) based on an agreement dated 03.10.2015, where the Operational Creditor was to receive a 5% commission. The Operational Creditor claims that the services were rendered, and invoices were raised on 23.01.2018. The Corporate Debtor acknowledged the debt through balance confirmations for the
…Association agreement between the Operational…
The Operational…