The appeal was filed against an order dated 04.09.2023 by the National Company Law Tribunal (NCLT), Allahabad Bench, which admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), initiating the Corporate Insolvency Resolution Process (CIRP) against the appellant. The dispute arose from a contract awarded to Gannon Dunkerley & Co Ltd (Operational Creditor) by National Highway and Infrastructure Development Corporation Ltd (NHIDCL) for a project. The Operational Creditor then appointed Kapasi Infracon LLP (Corporate Debtor) as a sub-contractor. Disputes arose regarding payments, rental charges for equipment, and the completion of work. The Operational Creditor filed a Section 9 IBC petition against the Corporate Debtor, which was admitted by
…On 09.11.2017/21.11.2017, Gannon Dunkerley & Co Ltd (Operational Creditor) was awarded a contract by National Highway and Infrastructure Development Corporation Ltd (NHIDCL). The contract involved the construction of a section of road from Jhanji to Demow. The Operational Creditor appointed Kapasi Infracon LLP (Corporate Debtor) as a sub-contractor. Disputes arose between the Operational Creditor and the Corporate Debtor regarding payments, rental charges for equipment, and the completion of work. From 12.11.2019 to 27.12.2021, disputes arose regarding the amount due. The Corporate Debtor completed 41.50% of the project. On 20.05.2022, the Corporate Debtor approached the Operational Creditor seeking release of funds. On 13.06.2022, the Operational Creditor
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Gannon Dunkerley & Co…
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The appeal was filed against an order dated 04.09.2023 by the National Company Law Tribunal (NCLT), Allahabad Bench, which admitted a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), initiating the Corporate Insolvency Resolution Process (CIRP) against the appellant. The dispute arose from a contract awarded to Gannon Dunkerley & Co Ltd (Operational Creditor) by National Highway and Infrastructure Development Corporation Ltd (NHIDCL) for a project. The Operational Creditor then appointed Kapasi Infracon LLP (Corporate Debtor) as a sub-contractor. Disputes arose regarding payments, rental charges for equipment, and the completion of work. The Operational Creditor filed a Section 9 IBC petition against the Corporate Debtor, which was admitted by
…On 09.11.2017/21.11.2017, Gannon Dunkerley & Co Ltd (Operational Creditor) was awarded a contract by National Highway and Infrastructure Development Corporation Ltd (NHIDCL). The contract involved the construction of a section of road from Jhanji to Demow. The Operational Creditor appointed Kapasi Infracon LLP (Corporate Debtor) as a sub-contractor. Disputes arose between the Operational Creditor and the Corporate Debtor regarding payments, rental charges for equipment, and the completion of work. From 12.11.2019 to 27.12.2021, disputes arose regarding the amount due. The Corporate Debtor completed 41.50% of the project. On 20.05.2022, the Corporate Debtor approached the Operational Creditor seeking release of funds. On 13.06.2022, the Operational Creditor
…Gannon Dunkerley & Co…
Disputes arise between…