The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Inspired Consultancy Services Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s MDG Consultants and Engineers Private Limited (Corporate Debtor) for failing to pay an outstanding operational debt of Rs. 2,31,53,347/- along with interest. The Operational Creditor claimed to have provided digital marketing services to the Corporate Debtor under a Business Service Agreement dated 04.10.2023. The Corporate Debtor contested the application, alleging a pre-existing dispute regarding the quality and timeliness of services.
M/s Inspired Consultancy Services Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s MDG Consultants and Engineers Private Limited (Corporate Debtor) for an outstanding operational debt of Rs. 2,31,53,347/-. The Operational Creditor and Corporate Debtor entered into a Business Service Agreement on 04.10.2023, where the Operational Creditor agreed to provide digital marketing services to the Corporate Debtor. The Operational Creditor raised invoices totaling Rs. 3,13,31,845/- between 01.11.2023 and 30.01.2024, but the Corporate Debtor only paid Rs. 81,78,498/-, leaving Rs. 2,31,53,347/- outstanding. The Operational Creditor issued a demand notice on 08.05.2024 under Section 8 of the IBC,
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M/s MDG Consultants and…
A Business Service Agreement was executed…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Inspired Consultancy Services Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s MDG Consultants and Engineers Private Limited (Corporate Debtor) for failing to pay an outstanding operational debt of Rs. 2,31,53,347/- along with interest. The Operational Creditor claimed to have provided digital marketing services to the Corporate Debtor under a Business Service Agreement dated 04.10.2023. The Corporate Debtor contested the application, alleging a pre-existing dispute regarding the quality and timeliness of services.
M/s Inspired Consultancy Services Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s MDG Consultants and Engineers Private Limited (Corporate Debtor) for an outstanding operational debt of Rs. 2,31,53,347/-. The Operational Creditor and Corporate Debtor entered into a Business Service Agreement on 04.10.2023, where the Operational Creditor agreed to provide digital marketing services to the Corporate Debtor. The Operational Creditor raised invoices totaling Rs. 3,13,31,845/- between 01.11.2023 and 30.01.2024, but the Corporate Debtor only paid Rs. 81,78,498/-, leaving Rs. 2,31,53,347/- outstanding. The Operational Creditor issued a demand notice on 08.05.2024 under Section 8 of the IBC,
…M/s MDG Consultants and…
A Business Service Agreement was executed…