ALAKHRAM INFRASTRUCTURE PRIVATE LIMITED (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against SHANTI INFRACONSTRUCT PRIVATE LIMITED (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The application sought recovery of an outstanding operational debt of Rs. 6,72,92,000/-, arising from work orders for gas pipeline supply and laying. Invoices were raised in March 2023, with the date of default recorded as 08.05.2023. The Corporate Debtor disputed the claim, alleging incomplete and defective work, non-performance, and the existence of a pre-existing dispute, citing an email dated 10.07.2024 and ongoing proceedings under the MSMED Act.
The present Application was filed on 02.11.2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Alakhram Infrastructure Private Limited (Applicant/Operational Creditor) to initiate CIRP against M/s Shanti Infraconstruct Private Limited (Corporate Debtor/Respondent).
The Operational Creditor, M/s Alakhram Infrastructure Private Limited, is a private limited company incorporated on 22.02.2018, represented by Mr. Suraj Sharma (PCS).
The Corporate Debtor, M/s Shanti Infraconstruct Private Limited, is a private limited company incorporated on 13.02.2020, formerly known as M/s Shanti Construction.
The Corporate Debtor's Memorandum of Association was altered to include a clause to take over the business of Proprietor of M/s Shanti Construction.
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M/s Alakhram Infrastruct…
M/s Shanti Infraconstruc…
ALAKHRAM INFRASTRUCTURE PRIVATE LIMITED (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against SHANTI INFRACONSTRUCT PRIVATE LIMITED (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The application sought recovery of an outstanding operational debt of Rs. 6,72,92,000/-, arising from work orders for gas pipeline supply and laying. Invoices were raised in March 2023, with the date of default recorded as 08.05.2023. The Corporate Debtor disputed the claim, alleging incomplete and defective work, non-performance, and the existence of a pre-existing dispute, citing an email dated 10.07.2024 and ongoing proceedings under the MSMED Act.
The present Application was filed on 02.11.2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Alakhram Infrastructure Private Limited (Applicant/Operational Creditor) to initiate CIRP against M/s Shanti Infraconstruct Private Limited (Corporate Debtor/Respondent).
The Operational Creditor, M/s Alakhram Infrastructure Private Limited, is a private limited company incorporated on 22.02.2018, represented by Mr. Suraj Sharma (PCS).
The Corporate Debtor, M/s Shanti Infraconstruct Private Limited, is a private limited company incorporated on 13.02.2020, formerly known as M/s Shanti Construction.
The Corporate Debtor's Memorandum of Association was altered to include a clause to take over the business of Proprietor of M/s Shanti Construction.
…M/s Alakhram Infrastruct…
M/s Shanti Infraconstruc…