The case involves a petition filed by Airhub Technologies Pvt Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Netxcell Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to discharge a debt of Rs. 1,88,55,869.00. The Operational Creditor had provided electronic telecom equipment/hardware and services to the Corporate Debtor, raising invoices from July to September 2016 amounting to Rs. 1,54,56,852.00. The Corporate Debtor acknowledged the dues but failed to make payments. The Corporate Debtor denied the averments, claiming the application was not maintainable and the contents raised by the Operational Creditor were
…Airhub Technologies Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Netxcell Ltd (Corporate Debtor) for failing to pay a debt of Rs. 1,88,55,869.00. The debt arose from the Operational Creditor providing electronic telecom equipment/hardware and services to the Corporate Debtor. Invoices were raised from July to September 2016, totaling Rs. 1,54,56,852.00. The Corporate Debtor acknowledged the debt in email communications between May and June 2019, seeking time for payment. A demand notice was issued on 26.11.2019 for Rs. 1,54,56,852/-, which the Corporate Debtor acknowledged. The Corporate Debtor replied on 04.12.2019, claiming a dispute and requesting reconciliation. The Operational Creditor
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Operational Creditor raised invoices for…
Netxcell acknowledged…
The case involves a petition filed by Airhub Technologies Pvt Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Netxcell Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor failed to discharge a debt of Rs. 1,88,55,869.00. The Operational Creditor had provided electronic telecom equipment/hardware and services to the Corporate Debtor, raising invoices from July to September 2016 amounting to Rs. 1,54,56,852.00. The Corporate Debtor acknowledged the dues but failed to make payments. The Corporate Debtor denied the averments, claiming the application was not maintainable and the contents raised by the Operational Creditor were
…Airhub Technologies Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Netxcell Ltd (Corporate Debtor) for failing to pay a debt of Rs. 1,88,55,869.00. The debt arose from the Operational Creditor providing electronic telecom equipment/hardware and services to the Corporate Debtor. Invoices were raised from July to September 2016, totaling Rs. 1,54,56,852.00. The Corporate Debtor acknowledged the debt in email communications between May and June 2019, seeking time for payment. A demand notice was issued on 26.11.2019 for Rs. 1,54,56,852/-, which the Corporate Debtor acknowledged. The Corporate Debtor replied on 04.12.2019, claiming a dispute and requesting reconciliation. The Operational Creditor
…Operational Creditor raised invoices for…
Netxcell acknowledged…