Xanadu Realty Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against T Bhimjyani Realty Private Limited, the corporate debtor, due to unpaid operational debt.
Xanadu Realty Limited (Operational Creditor) filed a petition under Section 9 of the IBC against T Bhimjyani Realty Private Limited (Corporate Debtor).
The Operational Creditor and Corporate Debtor entered into a service agreement on 21.10.2022 for real estate marketing, sales, and project consultancy services.
The Operational Creditor raised 13 invoices on the Corporate Debtor between 16.11.2022 and 26.12.2023, with the first five invoices being paid in full.
The balance invoices remained outstanding for an aggregate amount of Rs. 3,73,66,865/-.
The Corporate Debtor claimed a pre-existing dispute based on an email dated 11.12.2023, regarding customer refunds and communications under a previous agreement.
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Operational Creditor…
Operational Creditor and Corporate Debtor…
Xanadu Realty Limited, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against T Bhimjyani Realty Private Limited, the corporate debtor, due to unpaid operational debt.
Xanadu Realty Limited (Operational Creditor) filed a petition under Section 9 of the IBC against T Bhimjyani Realty Private Limited (Corporate Debtor).
The Operational Creditor and Corporate Debtor entered into a service agreement on 21.10.2022 for real estate marketing, sales, and project consultancy services.
The Operational Creditor raised 13 invoices on the Corporate Debtor between 16.11.2022 and 26.12.2023, with the first five invoices being paid in full.
The balance invoices remained outstanding for an aggregate amount of Rs. 3,73,66,865/-.
The Corporate Debtor claimed a pre-existing dispute based on an email dated 11.12.2023, regarding customer refunds and communications under a previous agreement.
…Operational Creditor…
Operational Creditor and Corporate Debtor…