The Operational Creditor, 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, Albanna Engineering (India) Private Limited, which is involved in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor had approached the Operational Creditor for renting cranes for executing work at their designated site. The Operational Creditor claimed that the Corporate Debtor failed to pay outstanding dues of Rs. 11,05,41,206/-. Despite several reminders and the issuance of cheques, some of which were dishonored, the Corporate Debtor failed to honor its commitments. A Memorandum of Understanding (MoU) was entered into to
…Sanghvi Movers Limited, the Operational Creditor, is in the business of supplying cranes on a hire/rental basis. Albanna Engineering (India) Private Limited, the Corporate Debtor, is engaged in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor approached the Operational Creditor for renting cranes. The Operational Creditor claimed outstanding dues of Rs. 11,05,41,206/-. The Corporate Debtor made irregular payments. Till August 2016, Rs. 3,66,29,015/- was due. The Corporate Debtor issued 4 cheques totaling Rs. 3,25,00,000/-, but some were dishonored. A statutory notice was issued on 07.11.2016 under Section 138 of the Negotiable Instruments Act, 1881. A Memorandum of Understanding (MoU) was entered on 20.12.2016. The Corporate Debtor issued 11
…Sign in to view the parties.
Cheque bearing No.…
Cheque bearing No.…
The Operational Creditor, 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, Albanna Engineering (India) Private Limited, which is involved in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor had approached the Operational Creditor for renting cranes for executing work at their designated site. The Operational Creditor claimed that the Corporate Debtor failed to pay outstanding dues of Rs. 11,05,41,206/-. Despite several reminders and the issuance of cheques, some of which were dishonored, the Corporate Debtor failed to honor its commitments. A Memorandum of Understanding (MoU) was entered into to
…Sanghvi Movers Limited, the Operational Creditor, is in the business of supplying cranes on a hire/rental basis. Albanna Engineering (India) Private Limited, the Corporate Debtor, is engaged in EPC CONTRACT, Infrastructure and construction works. The Corporate Debtor approached the Operational Creditor for renting cranes. The Operational Creditor claimed outstanding dues of Rs. 11,05,41,206/-. The Corporate Debtor made irregular payments. Till August 2016, Rs. 3,66,29,015/- was due. The Corporate Debtor issued 4 cheques totaling Rs. 3,25,00,000/-, but some were dishonored. A statutory notice was issued on 07.11.2016 under Section 138 of the Negotiable Instruments Act, 1881. A Memorandum of Understanding (MoU) was entered on 20.12.2016. The Corporate Debtor issued 11
…Cheque bearing No.…
Cheque bearing No.…