M/s. Planetcast Media Services Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against M/s. Sathyadhara Communications Private Limited (Corporate Debtor) seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The petition alleges a default in payment of operational debt amounting to Rs. 3,41,13,009/- for teleport and cloud playout services. The Corporate Debtor disputed the debt, claiming non-credit of payments, pre-existing disputes regarding service quality, and arguing that the IBC is being misused as a debt recovery mechanism.
A petition was filed on 14.07.2026 by M/s. Planetcast Media Services Private Limited (Operational Creditor) against M/s. Sathyadhara Communications Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016.
The petition seeks initiation of the Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's default in payment of operational debt.
M/s. Planetcast Media Services Private Limited was incorporated on 13.04.1996 and converted into a private company on 18.02.2026.
M/s. Sathyadhara Communications Private Limited was incorporated on 18.02.2009.
In 2014, the Corporate Debtor engaged the Operational Creditor for uplinking, satellite bandwidth, and related services for its TV channel, Darshana TV.
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Date of 1st Uplinking Service Agreement and…
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M/s. Planetcast Media Services Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against M/s. Sathyadhara Communications Private Limited (Corporate Debtor) seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The petition alleges a default in payment of operational debt amounting to Rs. 3,41,13,009/- for teleport and cloud playout services. The Corporate Debtor disputed the debt, claiming non-credit of payments, pre-existing disputes regarding service quality, and arguing that the IBC is being misused as a debt recovery mechanism.
A petition was filed on 14.07.2026 by M/s. Planetcast Media Services Private Limited (Operational Creditor) against M/s. Sathyadhara Communications Private Limited (Corporate Debtor) under Section 9 of the IBC, 2016.
The petition seeks initiation of the Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's default in payment of operational debt.
M/s. Planetcast Media Services Private Limited was incorporated on 13.04.1996 and converted into a private company on 18.02.2026.
M/s. Sathyadhara Communications Private Limited was incorporated on 18.02.2009.
In 2014, the Corporate Debtor engaged the Operational Creditor for uplinking, satellite bandwidth, and related services for its TV channel, Darshana TV.
…Date of 1st Uplinking Service Agreement and…
Parties amend…