The Operational Creditor, M/s Sanghvi Movers Limited, engaged in the business of supplying cranes on a hire/rental basis, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, M/s Albanna Engineering (India) Private Limited, which is engaged in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor had approached the Operational Creditor for renting cranes, and the Operational Creditor provided crane services based on work orders. Disputes arose due to non-payment of outstanding dues by the Corporate Debtor.
M/s Sanghvi Movers Limited (Operational Creditor) is in the business of supplying cranes on a hire/rental basis. M/s Albanna Engineering (India) Private Limited (Corporate Debtor) is engaged in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor approached the Operational Creditor for renting cranes. The Operational Creditor provided crane services based on various work orders. The Corporate Debtor failed to make timely payments, leading to outstanding dues. The Operational Creditor raised invoices claiming Rs. 11,05,41,206/-. The Corporate Debtor made irregular payments, and a sum of Rs. 3,66,29,015/- was due as of August 2016. The Corporate Debtor issued 4 cheques totaling Rs. 3,25,00,000/-, but some were dishonored. A Memorandum of
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A sum of Rs. 3,66,29,015…
Cheques issued by the…
The Operational Creditor, M/s Sanghvi Movers Limited, engaged in the business of supplying cranes on a hire/rental basis, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor, M/s Albanna Engineering (India) Private Limited, which is engaged in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor had approached the Operational Creditor for renting cranes, and the Operational Creditor provided crane services based on work orders. Disputes arose due to non-payment of outstanding dues by the Corporate Debtor.
M/s Sanghvi Movers Limited (Operational Creditor) is in the business of supplying cranes on a hire/rental basis. M/s Albanna Engineering (India) Private Limited (Corporate Debtor) is engaged in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor approached the Operational Creditor for renting cranes. The Operational Creditor provided crane services based on various work orders. The Corporate Debtor failed to make timely payments, leading to outstanding dues. The Operational Creditor raised invoices claiming Rs. 11,05,41,206/-. The Corporate Debtor made irregular payments, and a sum of Rs. 3,66,29,015/- was due as of August 2016. The Corporate Debtor issued 4 cheques totaling Rs. 3,25,00,000/-, but some were dishonored. A Memorandum of
…A sum of Rs. 3,66,29,015…
Cheques issued by the…