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Adeeb   08 June 2018

Big realestate client not paying invoices

We are a small company and have done work for a realestate company which is among the top 10 land developers in India. Invoices are not being cleared by them for the last 10 months. The payment terms mentioned in purchase order was 60 days. The pending bills are more than 15 lakh rupees and the resultant cash crunch is killing our business. The experts advice on the legal course we must take will be really appreciated as we are no match to the customers legal help.


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 4 Replies

Rahul Kapoor (Legal Enthusiast)     09 June 2018

Dear Adbeed,

You may proceed for initiating insolvency proceedings against the Corporate Debtor (Real Estate company in your case).

Is there any dispute regarding the invoices raised, between you and Corporate Debtor ?

Regards

kapoor.legal@gmail.com

Adeeb   10 June 2018

Mr. Kapoor, No there is no dispute as such regarding invoices. And we have signed delivery challans of the goods delivered. Tentatively how much time will it take for us to get the money with legal help? Thanks and Regards

Adeeb   10 June 2018

Mr. Kapoor, No there is no dispute as such regarding invoices. And we have signed delivery challans of the goods delivered. Tentatively how much time will it take for us to get the money with legal help? Thanks and Regards

Rahul Kapoor (Legal Enthusiast)     10 June 2018

Dear Adeeb,

Under the IB Code period of 180 days is envisaged from the date of admitting the application.

Actual time may depened from case to case.

Reagrds

kapoor.legal@gmail.com

 


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