M/s Global Infonet Distribution Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Nishan Systems Private Limited, the corporate debtor, seeking initiation of corporate insolvency resolution process. The operational creditor claimed that the corporate debtor defaulted on payments for computer software, SAP, and other software components supplied. The corporate debtor disputed the claim, asserting that payments had already been made, including adjustments for Marketing Development Funds (MDF) and TDS.
M/s Global Infonet Distribution Private Limited (Operational Creditor) filed a petition against M/s Nishan Systems Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 12,79,433/-. The Operational Creditor supplied computer software, SAP, and other software components to the Corporate Debtor, raising invoices between August and December 2017. The Corporate Debtor claimed to have made payments, including adjustments for Marketing Development Funds (MDF) and TDS. The Corporate Debtor argued that the Operational Creditor's business development team acknowledged claims for MDF disbursement. The Operational Creditor sent a demand notice in Form-3 on August 7, 2018. The Corporate Debtor replied on August
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Operational Creditor…
Operational Creditor…
M/s Global Infonet Distribution Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Nishan Systems Private Limited, the corporate debtor, seeking initiation of corporate insolvency resolution process. The operational creditor claimed that the corporate debtor defaulted on payments for computer software, SAP, and other software components supplied. The corporate debtor disputed the claim, asserting that payments had already been made, including adjustments for Marketing Development Funds (MDF) and TDS.
M/s Global Infonet Distribution Private Limited (Operational Creditor) filed a petition against M/s Nishan Systems Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 12,79,433/-. The Operational Creditor supplied computer software, SAP, and other software components to the Corporate Debtor, raising invoices between August and December 2017. The Corporate Debtor claimed to have made payments, including adjustments for Marketing Development Funds (MDF) and TDS. The Corporate Debtor argued that the Operational Creditor's business development team acknowledged claims for MDF disbursement. The Operational Creditor sent a demand notice in Form-3 on August 7, 2018. The Corporate Debtor replied on August
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Operational Creditor…