The case involves a company petition filed by Siddhesh Bhalchandra Naik (Operational Creditor) against M/s. Rao Edusolutions Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging a default of Rs. 23,74,133/-. The Operational Creditor provided consultancy services to the Corporate Debtor under a service agreement. Disputes arose regarding the payment of dues, leading to the filing of the petition to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor denied the allegations and claimed breach of contract by the Operational Creditor.
Siddhesh Bhalchandra Naik (Operational Creditor) filed a petition against M/s. Rao Edusolutions Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 23,74,133/-. The Operational Creditor provided consultancy services to the Corporate Debtor as a 'Consultant of Mathematics' under a service agreement dated 06.12.2017, for a term of three years from 01.04.2017 to 31.03.2020. The Operational Creditor submitted bills for monthly professional fees, including GST. While some payments were made, delays and non-payment of GST amounts occurred. The Operational Creditor resigned on 11.04.2019, which was accepted by the Corporate Debtor. The Corporate Debtor promised to clear all outstanding dues within 90 days of the
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Service agreement…
Service agreement…
The case involves a company petition filed by Siddhesh Bhalchandra Naik (Operational Creditor) against M/s. Rao Edusolutions Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging a default of Rs. 23,74,133/-. The Operational Creditor provided consultancy services to the Corporate Debtor under a service agreement. Disputes arose regarding the payment of dues, leading to the filing of the petition to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor denied the allegations and claimed breach of contract by the Operational Creditor.
Siddhesh Bhalchandra Naik (Operational Creditor) filed a petition against M/s. Rao Edusolutions Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 23,74,133/-. The Operational Creditor provided consultancy services to the Corporate Debtor as a 'Consultant of Mathematics' under a service agreement dated 06.12.2017, for a term of three years from 01.04.2017 to 31.03.2020. The Operational Creditor submitted bills for monthly professional fees, including GST. While some payments were made, delays and non-payment of GST amounts occurred. The Operational Creditor resigned on 11.04.2019, which was accepted by the Corporate Debtor. The Corporate Debtor promised to clear all outstanding dues within 90 days of the
…Service agreement…
Service agreement…