M/s. Isthara Parks Private Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/s. Valmar Projects LLP, the corporate debtor, for alleged default in payment of debt amounting to Rs. 5,69,65,755. The petitioner and respondent entered into a Facilities Service Agreement (FSA) and a Catering Service Agreement (CSA). The petitioner claimed that the respondent violated the agreement by failing to clear invoice amounts within the stipulated time. The respondent, however, contended that there was a pre-existing dispute regarding the quality of services provided by the petitioner.
M/s. Isthara Parks Private Limited (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/s. Valmar Projects LLP (Corporate Debtor/Respondent) for an alleged default of Rs. 5,69,65,755. The petitioner and respondent entered into a Facilities Service Agreement (FSA) on 23rd February 2022 and a Catering Service Agreement (CSA) on 16th March 2022. The petitioner raised invoices for services rendered from April 2022 to May 2023, and the respondent made partial payments. The petitioner alleged that the respondent violated the agreement by failing to clear invoice amounts within the stipulated time, raising the issue via email on 12.10.2022. The respondent admitted dues and provided a ledger account statement
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Petitioner and…
Petitioner and…
M/s. Isthara Parks Private Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/s. Valmar Projects LLP, the corporate debtor, for alleged default in payment of debt amounting to Rs. 5,69,65,755. The petitioner and respondent entered into a Facilities Service Agreement (FSA) and a Catering Service Agreement (CSA). The petitioner claimed that the respondent violated the agreement by failing to clear invoice amounts within the stipulated time. The respondent, however, contended that there was a pre-existing dispute regarding the quality of services provided by the petitioner.
M/s. Isthara Parks Private Limited (Operational Creditor/Petitioner) filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) against M/s. Valmar Projects LLP (Corporate Debtor/Respondent) for an alleged default of Rs. 5,69,65,755. The petitioner and respondent entered into a Facilities Service Agreement (FSA) on 23rd February 2022 and a Catering Service Agreement (CSA) on 16th March 2022. The petitioner raised invoices for services rendered from April 2022 to May 2023, and the respondent made partial payments. The petitioner alleged that the respondent violated the agreement by failing to clear invoice amounts within the stipulated time, raising the issue via email on 12.10.2022. The respondent admitted dues and provided a ledger account statement
…Petitioner and…
Petitioner and…