EBPL Ventures Pvt Ltd filed an appeal against the order dated 23.08.2022 passed by the National Company Law Tribunal, Ahmedabad Bench in CP(IB)No.11/AHM/2021, which dismissed their application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Sarguja Rail Corridor Pvt Ltd.
Sarguja Rail Corridor Pvt. Ltd. (SRCPL) was contracted to build a railway line on behalf of South East Central Railway Zone (SECR).
SRCPL awarded separate contracts to Gannon Dunkerley and Company Limited (GDCL) and M/s Vijay Nirman Company Private Limited (VNCPL).
EBPL Ventures Pvt Ltd was a sub-contractor to GDCL and VNCPL.
SRCPL issued Letters of Intent (LOI) to GDCL and VNCPL for execution of work.
Disputes arose between EBPL and the contractors GDCL and VNCPL, stalling the project.
EBPL filed an application under Section 9 of the IBC before the NCLT, alleging non-payment.
The Ld. NCLT dismissed the application under Section 9 of IBC, 2016.
SRCPL stepped in as a facilitator to settle the dispute between EBPL and GDCL/VNCPL.
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The Ld. NCLT dismissed…
Minutes of meet…
EBPL Ventures Pvt Ltd filed an appeal against the order dated 23.08.2022 passed by the National Company Law Tribunal, Ahmedabad Bench in CP(IB)No.11/AHM/2021, which dismissed their application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Sarguja Rail Corridor Pvt Ltd.
Sarguja Rail Corridor Pvt. Ltd. (SRCPL) was contracted to build a railway line on behalf of South East Central Railway Zone (SECR).
SRCPL awarded separate contracts to Gannon Dunkerley and Company Limited (GDCL) and M/s Vijay Nirman Company Private Limited (VNCPL).
EBPL Ventures Pvt Ltd was a sub-contractor to GDCL and VNCPL.
SRCPL issued Letters of Intent (LOI) to GDCL and VNCPL for execution of work.
Disputes arose between EBPL and the contractors GDCL and VNCPL, stalling the project.
EBPL filed an application under Section 9 of the IBC before the NCLT, alleging non-payment.
The Ld. NCLT dismissed the application under Section 9 of IBC, 2016.
SRCPL stepped in as a facilitator to settle the dispute between EBPL and GDCL/VNCPL.
…The Ld. NCLT dismissed…
Minutes of meet…