Gracious Communication Pvt. Ltd., the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Vijaygroup Housing Pvt. Ltd., the Corporate Debtor. The Operational Creditor alleged that the Corporate Debtor defaulted in making payment for advertising services provided. The Operational Creditor raised nine invoices for the work done, which were accepted and acknowledged by the Corporate Debtor.
Gracious Communication Pvt. Ltd. (Operational Creditor) provided advertising services to Vijaygroup Housing Pvt. Ltd. (Corporate Debtor). Nine invoices were raised by the Operational Creditor for the services rendered, which were accepted and acknowledged by the Corporate Debtor. The Corporate Debtor failed to make payment of Rs. 28,10,030/- including interest. A demand notice was sent on December 20, 2018, but the Corporate Debtor did not respond or make any payment. The date of default was May 25, 2017, the due date of the last invoice. The Operational Creditor filed a petition on February 28, 2019, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against the Corporate Debtor. The Corporate Debtor did not file any reply to the petition.
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The due date of the…
Operational Creditor…
Gracious Communication Pvt. Ltd., the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Vijaygroup Housing Pvt. Ltd., the Corporate Debtor. The Operational Creditor alleged that the Corporate Debtor defaulted in making payment for advertising services provided. The Operational Creditor raised nine invoices for the work done, which were accepted and acknowledged by the Corporate Debtor.
Gracious Communication Pvt. Ltd. (Operational Creditor) provided advertising services to Vijaygroup Housing Pvt. Ltd. (Corporate Debtor). Nine invoices were raised by the Operational Creditor for the services rendered, which were accepted and acknowledged by the Corporate Debtor. The Corporate Debtor failed to make payment of Rs. 28,10,030/- including interest. A demand notice was sent on December 20, 2018, but the Corporate Debtor did not respond or make any payment. The date of default was May 25, 2017, the due date of the last invoice. The Operational Creditor filed a petition on February 28, 2019, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against the Corporate Debtor. The Corporate Debtor did not file any reply to the petition.
The due date of the…
Operational Creditor…