The case involves an appeal against an order dated 04.09.2023 passed 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, Kapasi Infracon LLP. The dispute arose from a sub-contracting agreement between Gannon Dunkerley & Co Ltd (GDCL), the Operational Creditor (OC), and Kapasi Infracon LLP, the Corporate Debtor (CD), for infrastructure development work awarded to GDCL by the National Highway and Infrastructure Development Corporation Ltd (NHIDCL). Disputes arose regarding payments, rental charges for equipment, and the completion of work. The NCLT found no pre-existing dispute, leading
…On 09.11.2017/21.11.2017, Gannon Dunkerley & Co Ltd (GDCL) was awarded a contract by National Highway and Infrastructure Development Corporation Ltd (NHIDCL) for infrastructure development. GDCL then appointed Kapasi Infracon LLP as a sub-contractor. Disputes arose between GDCL and Kapasi Infracon LLP regarding payments, rental charges for equipment, and the completion of work. From 12.11.2019 to 27.12.2021, disputes arose. Kapasi Infracon LLP completed 41.50% of the project. On 08.04.2022, agreements were terminated, and disputes were referred to arbitration. On 20.05.2022, Kapasi Infracon LLP sought the release of funds from GDCL for completed works. On 13.06.2022, GDCL requested a joint measurement of the works. On 21.06.2022, GDCL issued a final bill. On
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Gannon Dunkerley & Co…
Kapasi Infrac…
The case involves an appeal against an order dated 04.09.2023 passed 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, Kapasi Infracon LLP. The dispute arose from a sub-contracting agreement between Gannon Dunkerley & Co Ltd (GDCL), the Operational Creditor (OC), and Kapasi Infracon LLP, the Corporate Debtor (CD), for infrastructure development work awarded to GDCL by the National Highway and Infrastructure Development Corporation Ltd (NHIDCL). Disputes arose regarding payments, rental charges for equipment, and the completion of work. The NCLT found no pre-existing dispute, leading
…On 09.11.2017/21.11.2017, Gannon Dunkerley & Co Ltd (GDCL) was awarded a contract by National Highway and Infrastructure Development Corporation Ltd (NHIDCL) for infrastructure development. GDCL then appointed Kapasi Infracon LLP as a sub-contractor. Disputes arose between GDCL and Kapasi Infracon LLP regarding payments, rental charges for equipment, and the completion of work. From 12.11.2019 to 27.12.2021, disputes arose. Kapasi Infracon LLP completed 41.50% of the project. On 08.04.2022, agreements were terminated, and disputes were referred to arbitration. On 20.05.2022, Kapasi Infracon LLP sought the release of funds from GDCL for completed works. On 13.06.2022, GDCL requested a joint measurement of the works. On 21.06.2022, GDCL issued a final bill. On
…Gannon Dunkerley & Co…
Kapasi Infrac…