The case involves an application filed by Ms. Richa Dave, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Purple Thoughts India Private Limited, the corporate debtor, due to a default in payment of Rs. 4,15,730/-. The applicant and the corporate debtor had entered into contracts in 2017, and the applicant rendered services. The applicant terminated the contract in April 2019 and claimed the outstanding amount along with interest. A demand notice was sent in December 2021.
Ms. Richa Dave, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Purple Thoughts India Private Limited, the corporate debtor. The basis for the application was the corporate debtor's alleged default in payment of Rs. 4,15,730/-. The applicant and the corporate debtor had entered into contracts dated April 25, 2017, and June 5, 2017, for services rendered by the applicant. The applicant terminated the contract via email on April 25, 2019, and claimed the outstanding amount with 18% interest per annum. The amount fell due on April 25, 2019. A statutory demand notice under Section 8(1) of the Code was sent on December 28, 2021. The application
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Applicant and C…
Applicant and C…
The case involves an application filed by Ms. Richa Dave, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Purple Thoughts India Private Limited, the corporate debtor, due to a default in payment of Rs. 4,15,730/-. The applicant and the corporate debtor had entered into contracts in 2017, and the applicant rendered services. The applicant terminated the contract in April 2019 and claimed the outstanding amount along with interest. A demand notice was sent in December 2021.
Ms. Richa Dave, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Purple Thoughts India Private Limited, the corporate debtor. The basis for the application was the corporate debtor's alleged default in payment of Rs. 4,15,730/-. The applicant and the corporate debtor had entered into contracts dated April 25, 2017, and June 5, 2017, for services rendered by the applicant. The applicant terminated the contract via email on April 25, 2019, and claimed the outstanding amount with 18% interest per annum. The amount fell due on April 25, 2019. A statutory demand notice under Section 8(1) of the Code was sent on December 28, 2021. The application
…Applicant and C…
Applicant and C…