This case involves an appeal filed by Rajpal Singh Solanki, a Director of Minarch Overseas Private Limited (Corporate Debtor), against an order dated 25.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) in CP (IB) No. 615 (ND)/2018. The Adjudicating Authority admitted an application filed by Quazar Infrastructure Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), rejecting the Corporate Debtor's contention of a pre-existing dispute.
Minarch Overseas Private Limited (Corporate Debtor) and Quazar Infrastructure Pvt. Ltd. (Operational Creditor) entered into an agreement dated January 18, 2013. A works contract was awarded to the Operational Creditor on January 15, 2013, for civil work construction of an office building with a total contract value of Rs. 5,32,74,331, to be completed by October 14, 2013. Additional work relating to fire-fighting, plumbing, and electrical work was awarded on December 21, 2013, with a completion date of September 30, 2014. The Appellant claimed the Respondent did not work according to contract conditions, the pace was slow, and the quality was sub-standard. The Operational Creditor allegedly stopped work in April 2015, leaving the project incomplete. Payments were made
…Sign in to view the parties.
A works contract was awarded to the Operational…
The original project…
This case involves an appeal filed by Rajpal Singh Solanki, a Director of Minarch Overseas Private Limited (Corporate Debtor), against an order dated 25.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) in CP (IB) No. 615 (ND)/2018. The Adjudicating Authority admitted an application filed by Quazar Infrastructure Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), rejecting the Corporate Debtor's contention of a pre-existing dispute.
Minarch Overseas Private Limited (Corporate Debtor) and Quazar Infrastructure Pvt. Ltd. (Operational Creditor) entered into an agreement dated January 18, 2013. A works contract was awarded to the Operational Creditor on January 15, 2013, for civil work construction of an office building with a total contract value of Rs. 5,32,74,331, to be completed by October 14, 2013. Additional work relating to fire-fighting, plumbing, and electrical work was awarded on December 21, 2013, with a completion date of September 30, 2014. The Appellant claimed the Respondent did not work according to contract conditions, the pace was slow, and the quality was sub-standard. The Operational Creditor allegedly stopped work in April 2015, leaving the project incomplete. Payments were made
…A works contract was awarded to the Operational…
The original project…