The case originates from 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 per annum. The date of default was mentioned as 31.03.2017, and the petition was filed on 14.03.2020, within the period of limitation. The Corporate Debtor is a Limited Liability Partnership firm. The Operational Creditor and the Corporate Debtor entered into an agreement dated 29.08.2016, where the Corporate Debtor authorized the Operational Creditor to act as a marketing
…Indiabulls Distribution Services Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Tanish Nirmiti LLP (Corporate Debtor) for an outstanding amount of Rs. 13,60,073/- with 18% interest p.a. The default date was 31.03.2017. The petition was filed on 14.03.2020. The Operational Creditor and Corporate Debtor had an agreement dated 29.08.2016, where the Operational Creditor acted as a marketing representative for the Corporate Debtor's real estate project "Falcon". The Corporate Debtor requested DCB Bank for NoC for the agreement on 22.08.2016. The Corporate Debtor agreed to auto-transfer receivables from an Escrow Account to the Operational Creditor's account. The
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The case originates from 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 per annum. The date of default was mentioned as 31.03.2017, and the petition was filed on 14.03.2020, within the period of limitation. The Corporate Debtor is a Limited Liability Partnership firm. The Operational Creditor and the Corporate Debtor entered into an agreement dated 29.08.2016, where the Corporate Debtor authorized the Operational Creditor to act as a marketing
…Indiabulls Distribution Services Limited (Operational Creditor) filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, to initiate CIRP against Tanish Nirmiti LLP (Corporate Debtor) for an outstanding amount of Rs. 13,60,073/- with 18% interest p.a. The default date was 31.03.2017. The petition was filed on 14.03.2020. The Operational Creditor and Corporate Debtor had an agreement dated 29.08.2016, where the Operational Creditor acted as a marketing representative for the Corporate Debtor's real estate project "Falcon". The Corporate Debtor requested DCB Bank for NoC for the agreement on 22.08.2016. The Corporate Debtor agreed to auto-transfer receivables from an Escrow Account to the Operational Creditor's account. The
…The Operational…
The Corporate Debtor…