Kritikal Solutions Pvt Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Professional Process (CIRP) against Byju's K3 Education Pvt Ltd, claiming a default in payment of Rs. 1,76,71,832.74.
Kritikal Solutions Pvt Ltd is a private limited company engaged in research and development and engineering services.
Byju's K3 Education Pvt Ltd is a private limited company in the education technology sector.
A Master Services Agreement (MSA) was entered into between Kritikal Solutions and Byju's K3 Education, effective from 20.08.2020.
Kritikal Solutions rendered services to Byju's K3 Education and raised invoices at periodic intervals.
Byju's K3 Education made payments against the invoices after deducting TDS.
Invoices raised between 30.06.2021 and 30.11.2021, TDS credits were not reflected in Kritikal Solutions' Form 26AS.
Kritikal Solutions raised invoices between September 2022 and November 2022, totaling Rs.1,91,84,300.76.
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Petition filed under…
Demand Notice in Form 3…
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Kritikal Solutions Pvt Ltd filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Professional Process (CIRP) against Byju's K3 Education Pvt Ltd, claiming a default in payment of Rs. 1,76,71,832.74.
Kritikal Solutions Pvt Ltd is a private limited company engaged in research and development and engineering services.
Byju's K3 Education Pvt Ltd is a private limited company in the education technology sector.
A Master Services Agreement (MSA) was entered into between Kritikal Solutions and Byju's K3 Education, effective from 20.08.2020.
Kritikal Solutions rendered services to Byju's K3 Education and raised invoices at periodic intervals.
Byju's K3 Education made payments against the invoices after deducting TDS.
Invoices raised between 30.06.2021 and 30.11.2021, TDS credits were not reflected in Kritikal Solutions' Form 26AS.
Kritikal Solutions raised invoices between September 2022 and November 2022, totaling Rs.1,91,84,300.76.
…Petition filed under…
Demand Notice in Form 3…
Sign in to view related legal provisions.