Jones Lang Lasalle Property Consultants (India) Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Srijan Realty Pvt. Ltd., seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor (Jones Lang Lasalle) claimed that the Corporate Debtor (Srijan Realty) failed to pay outstanding dues for consultancy services related to a land transaction. The Corporate Debtor contested the claim, alleging defects in the petition and disputing the existence of debt.
Jones Lang Lasalle Property Consultants (India) Pvt. Ltd. (Operational Creditor) provided real estate consulting services to Srijan Realty Pvt. Ltd. (Corporate Debtor) for a land transaction involving ESAB India Limited. An agreement was executed between the Corporate Debtor and ESAB India Limited in March 2017 for the purchase of land. The Operational Creditor claims that it successfully completed its services, entitling it to a consultancy fee of Rs. 1,00,00,000/- plus taxes. An invoice dated 31st January 2018 for Rs. 1,18,00,000/- (inclusive of GST) was issued to the Corporate Debtor, with payment due on 2nd March 2018. The Corporate Debtor allegedly failed to pay the outstanding amount despite reminders. The Operational Creditor issued a notice under Section 8 of
…Sign in to view the parties.
Agreement executed…
Operational Creditor…
Jones Lang Lasalle Property Consultants (India) Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Srijan Realty Pvt. Ltd., seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor (Jones Lang Lasalle) claimed that the Corporate Debtor (Srijan Realty) failed to pay outstanding dues for consultancy services related to a land transaction. The Corporate Debtor contested the claim, alleging defects in the petition and disputing the existence of debt.
Jones Lang Lasalle Property Consultants (India) Pvt. Ltd. (Operational Creditor) provided real estate consulting services to Srijan Realty Pvt. Ltd. (Corporate Debtor) for a land transaction involving ESAB India Limited. An agreement was executed between the Corporate Debtor and ESAB India Limited in March 2017 for the purchase of land. The Operational Creditor claims that it successfully completed its services, entitling it to a consultancy fee of Rs. 1,00,00,000/- plus taxes. An invoice dated 31st January 2018 for Rs. 1,18,00,000/- (inclusive of GST) was issued to the Corporate Debtor, with payment due on 2nd March 2018. The Corporate Debtor allegedly failed to pay the outstanding amount despite reminders. The Operational Creditor issued a notice under Section 8 of
…Agreement executed…
Operational Creditor…