R.A.J. Krishna Construction Company Private Limited (Appellant/Operational Creditor) filed an appeal against the order dated 26.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Bench-II) in CP (IB) No. 205(ND)/2023. The Adjudicating Authority had dismissed the Section 9 application filed by the Operational Creditor for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, New Era Solutions Private Limited. The appellant claimed to be engaged in project management, consultancy, and turnkey construction. A work order was awarded by Home & Soul (H&S) on 12.10.2018, with subsequent addenda. The appellant contended that a Memorandum of Understanding (MoU) dated 07.12.2020 transferred H&S's
…R.A.J. Krishna Construction Company Private Limited (Appellant), an operational creditor, filed an appeal against the order of the Adjudicating Authority (NCLT) which dismissed its Section 9 application to initiate CIRP against New Era Solutions Private Limited (Corporate Debtor). The Appellant claimed that it was awarded a work order by Home & Soul (H&S) on 12.10.2018. Subsequently, an addendum to the work order was issued on 09.01.2019, and another addendum was signed on 14.12.2020 between the Appellant and H&S. The Appellant asserted that clause-1 of the addendum made the Corporate Debtor responsible for executing the original work order. The Appellant was mandated to raise Running Account Bills (RA Bills) upon the Corporate Debtor, and the Appellant
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R.A.J. Krishna Construction Company Private Limited (Appellant/Operational Creditor) filed an appeal against the order dated 26.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Bench-II) in CP (IB) No. 205(ND)/2023. The Adjudicating Authority had dismissed the Section 9 application filed by the Operational Creditor for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, New Era Solutions Private Limited. The appellant claimed to be engaged in project management, consultancy, and turnkey construction. A work order was awarded by Home & Soul (H&S) on 12.10.2018, with subsequent addenda. The appellant contended that a Memorandum of Understanding (MoU) dated 07.12.2020 transferred H&S's
…R.A.J. Krishna Construction Company Private Limited (Appellant), an operational creditor, filed an appeal against the order of the Adjudicating Authority (NCLT) which dismissed its Section 9 application to initiate CIRP against New Era Solutions Private Limited (Corporate Debtor). The Appellant claimed that it was awarded a work order by Home & Soul (H&S) on 12.10.2018. Subsequently, an addendum to the work order was issued on 09.01.2019, and another addendum was signed on 14.12.2020 between the Appellant and H&S. The Appellant asserted that clause-1 of the addendum made the Corporate Debtor responsible for executing the original work order. The Appellant was mandated to raise Running Account Bills (RA Bills) upon the Corporate Debtor, and the Appellant
…Home & Soul (H&S) issued a work order to…
An addendum to…
Sign in to view related legal provisions.