Simplex Infrastructures Limited, the Appellant and original Operational Creditor, filed an appeal against the rejection of its application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application, CP (IB) No.02/BB/2018, was filed before the National Company Law Tribunal, Bengaluru Bench, against Nitesh Estates Limited, the Respondent and Corporate Debtor. The Adjudicating Authority rejected the application, leading to the appeal before the NCLAT.
Simplex Infrastructures Limited (Appellant) entered into a contract agreement with Nitesh Estates Limited (Respondent) for the construction of the Ritz Carlton Hotel in Bangalore. The agreement was executed on March 19, 2008. The Appellant claims the construction was completed in 2012 and the hotel became functional in 2013. A Final Payment Certificate was issued on October 31, 2014, but a balance of Rs.6,03,55,646/- remained unpaid. The Appellant sent a demand notice under Section 8 of the IBC on September 28, 2017. The Respondent replied on October 28, 2017, without raising any dispute. However, Nitesh Residency Hotels Private Limited (NRHPL), a subsidiary of the Respondent, sent a response on December 2, 2017. The Appellant filed an application under Section 9 of
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Simplex Infrastructures Limited and Nitesh…
Taking Over Certificate dated 7th April, 2014…
Simplex Infrastructures Limited, the Appellant and original Operational Creditor, filed an appeal against the rejection of its application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application, CP (IB) No.02/BB/2018, was filed before the National Company Law Tribunal, Bengaluru Bench, against Nitesh Estates Limited, the Respondent and Corporate Debtor. The Adjudicating Authority rejected the application, leading to the appeal before the NCLAT.
Simplex Infrastructures Limited (Appellant) entered into a contract agreement with Nitesh Estates Limited (Respondent) for the construction of the Ritz Carlton Hotel in Bangalore. The agreement was executed on March 19, 2008. The Appellant claims the construction was completed in 2012 and the hotel became functional in 2013. A Final Payment Certificate was issued on October 31, 2014, but a balance of Rs.6,03,55,646/- remained unpaid. The Appellant sent a demand notice under Section 8 of the IBC on September 28, 2017. The Respondent replied on October 28, 2017, without raising any dispute. However, Nitesh Residency Hotels Private Limited (NRHPL), a subsidiary of the Respondent, sent a response on December 2, 2017. The Appellant filed an application under Section 9 of
…Simplex Infrastructures Limited and Nitesh…
Taking Over Certificate dated 7th April, 2014…