M/s Compuage Infocom Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Presto Info Solutions Private Limited, the corporate debtor. The operational debt arose from the sale of computer hardware and software peripherals by the applicant to the corporate debtor. The applicant claimed a principal amount of Rs. 2,60,23,070/- with interest, totaling Rs. 10,34,92,071/- as of 30.04.2021. The corporate debtor opposed the application, citing a settlement agreement dated 22.10.2020, and argued that the default occurred during the period when Section 10A of the IBC was in force, which suspended the initiation of CIRP for
…M/s Compuage Infocom Limited (Operational Creditor) sold computer hardware and software peripherals to M/s. Presto Info Solutions Private Limited (Corporate Debtor). The total principal amount claimed by the Operational Creditor is Rs. 2,60,23,070/-. The date of default relied upon by the Operational Creditor is 23.02.2019. The Operational Creditor issued a Demand Notice dated 06.04.2021 under Section 8 of IBC to the Corporate Debtor. The Corporate Debtor had earlier filed its reply and opposed the application. The Corporate Debtor submitted that the Applicant had earlier also filed an application under Section 9 bearing No. (IB)-961(ND)2020 against the Corporate Debtor, which was withdrawn by the Applicant on 01.12.2020. The parties had executed a settlement agreement
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M/s Compuage Infocom Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Presto Info Solutions Private Limited, the corporate debtor. The operational debt arose from the sale of computer hardware and software peripherals by the applicant to the corporate debtor. The applicant claimed a principal amount of Rs. 2,60,23,070/- with interest, totaling Rs. 10,34,92,071/- as of 30.04.2021. The corporate debtor opposed the application, citing a settlement agreement dated 22.10.2020, and argued that the default occurred during the period when Section 10A of the IBC was in force, which suspended the initiation of CIRP for
…M/s Compuage Infocom Limited (Operational Creditor) sold computer hardware and software peripherals to M/s. Presto Info Solutions Private Limited (Corporate Debtor). The total principal amount claimed by the Operational Creditor is Rs. 2,60,23,070/-. The date of default relied upon by the Operational Creditor is 23.02.2019. The Operational Creditor issued a Demand Notice dated 06.04.2021 under Section 8 of IBC to the Corporate Debtor. The Corporate Debtor had earlier filed its reply and opposed the application. The Corporate Debtor submitted that the Applicant had earlier also filed an application under Section 9 bearing No. (IB)-961(ND)2020 against the Corporate Debtor, which was withdrawn by the Applicant on 01.12.2020. The parties had executed a settlement agreement
…The date on which the corporate debtor…
The date on which the…