The appeal was filed by Chandralekha Constructions Pvt. Ltd. (Corporate Debtor) under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order of the National Company Law Tribunal (NCLT) dated 08.11.2019. The NCLT had admitted an application filed by Devi Industrial Engineers (Operational Creditor) under Section 9 of the IBC for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The appeal challenges the NCLT's decision to admit the application and initiate CIRP.
Chandralekha Constructions Pvt. Ltd. (Corporate Debtor) engaged Devi Industrial Engineers (Operational Creditor) for the deployment of a boom pump under a work order dated 09.09.2017. The Corporate Debtor alleged that the services provided by the Operational Creditor were deficient and defective, leading to frequent breakdowns and loss of work hours. The Corporate Debtor raised disputes regarding the invoices raised by the Operational Creditor, citing deficiency of service. The Operational Creditor approached the Construction Equipment Rental Forum (CERA) for conciliation and mediation. The Operational Creditor issued a demand notice under Section 8 of the IBC, claiming an outstanding amount. The Corporate Debtor claimed that the invoices forming the basis of the
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The appeal was filed by Chandralekha Constructions Pvt. Ltd. (Corporate Debtor) under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order of the National Company Law Tribunal (NCLT) dated 08.11.2019. The NCLT had admitted an application filed by Devi Industrial Engineers (Operational Creditor) under Section 9 of the IBC for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The appeal challenges the NCLT's decision to admit the application and initiate CIRP.
Chandralekha Constructions Pvt. Ltd. (Corporate Debtor) engaged Devi Industrial Engineers (Operational Creditor) for the deployment of a boom pump under a work order dated 09.09.2017. The Corporate Debtor alleged that the services provided by the Operational Creditor were deficient and defective, leading to frequent breakdowns and loss of work hours. The Corporate Debtor raised disputes regarding the invoices raised by the Operational Creditor, citing deficiency of service. The Operational Creditor approached the Construction Equipment Rental Forum (CERA) for conciliation and mediation. The Operational Creditor issued a demand notice under Section 8 of the IBC, claiming an outstanding amount. The Corporate Debtor claimed that the invoices forming the basis of the
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