The case involves an application filed by Indiabulls Distribution Services Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Tanish Nirmiti LLP, the Corporate Debtor. The Operational Creditor claimed a total outstanding amount of Rs.13,60,073/- along with 18% interest p.a. The Corporate Debtor had authorized the Operational Creditor to act as a marketing representative for a real estate project named "Falcon".
Indiabulls Distribution Services Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Tanish Nirmiti LLP (Corporate Debtor). The Operational Creditor claimed an outstanding amount of Rs.13,60,073/- with 18% interest p.a. The Corporate Debtor and Operational Creditor entered into an agreement on 29.08.2016, where the Corporate Debtor authorized the Operational Creditor to act as a marketing representative for the real estate project "Falcon". The Operational Creditor sold 4 flats/units and raised invoices amounting to Rs.11,82,670/-. The Corporate Debtor acknowledged the sale of flats and its liability to pay. The Corporate Debtor
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The Operational Creditor and the Corporate…
The Corporate Debtor, vide its letter dated…
The case involves an application filed by Indiabulls Distribution Services Limited, the Operational Creditor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Tanish Nirmiti LLP, the Corporate Debtor. The Operational Creditor claimed a total outstanding amount of Rs.13,60,073/- along with 18% interest p.a. The Corporate Debtor had authorized the Operational Creditor to act as a marketing representative for a real estate project named "Falcon".
Indiabulls Distribution Services Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Tanish Nirmiti LLP (Corporate Debtor). The Operational Creditor claimed an outstanding amount of Rs.13,60,073/- with 18% interest p.a. The Corporate Debtor and Operational Creditor entered into an agreement on 29.08.2016, where the Corporate Debtor authorized the Operational Creditor to act as a marketing representative for the real estate project "Falcon". The Operational Creditor sold 4 flats/units and raised invoices amounting to Rs.11,82,670/-. The Corporate Debtor acknowledged the sale of flats and its liability to pay. The Corporate Debtor
…The Operational Creditor and the Corporate…
The Corporate Debtor, vide its letter dated…