Zoom Communications Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Par Excellence Real Estate Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had engaged its services to procure a loan, for which an invoice of Rs. 57,25,000/- was raised, including taxes, with an interest of 24% per annum. The Corporate Debtor made a part-payment of Rs. 20,00,000/- but failed to pay the balance amount of Rs. 36,25,000/-. The Operational Creditor issued a demand notice dated 31.01.2020, which was not replied to by the Corporate Debtor.
Zoom Communications Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Par Excellence Real Estate Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor engaged its services to procure a loan, raising an invoice for Rs. 57,25,000/- including taxes, with a 24% per annum interest. The invoice, numbered ZCL/2015-16/145 and dated 15.12.2015, was acknowledged by the Corporate Debtor. Part-payments totaling Rs. 21,00,000/- were made, leaving a balance of Rs. 36,25,000/-. An email dated 12.11.2019 from Mr. Kuldeep Sharma (Corporate Debtor's representative) confirmed the outstanding balance. A demand notice dated 31.01.2020 was issued under Rule 5 of
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Zoom Communications raised an invoice for Rs.…
Par Excellence Real…
Zoom Communications Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Par Excellence Real Estate Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had engaged its services to procure a loan, for which an invoice of Rs. 57,25,000/- was raised, including taxes, with an interest of 24% per annum. The Corporate Debtor made a part-payment of Rs. 20,00,000/- but failed to pay the balance amount of Rs. 36,25,000/-. The Operational Creditor issued a demand notice dated 31.01.2020, which was not replied to by the Corporate Debtor.
Zoom Communications Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Par Excellence Real Estate Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor engaged its services to procure a loan, raising an invoice for Rs. 57,25,000/- including taxes, with a 24% per annum interest. The invoice, numbered ZCL/2015-16/145 and dated 15.12.2015, was acknowledged by the Corporate Debtor. Part-payments totaling Rs. 21,00,000/- were made, leaving a balance of Rs. 36,25,000/-. An email dated 12.11.2019 from Mr. Kuldeep Sharma (Corporate Debtor's representative) confirmed the outstanding balance. A demand notice dated 31.01.2020 was issued under Rule 5 of
…Zoom Communications raised an invoice for Rs.…
Par Excellence Real…