The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Fateh Bahadur Singh, Proprietor of Maa Sharda Traders (Operational Creditor), against M/s APS Hydro Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly failed to liquidate outstanding dues to the Operational Creditor. The Corporate Debtor had placed a work order dated 2018-05-01 to the Petitioner for the supply of WMM & Aggregated for the project, Development and Operation of Raebareli Ring Road in the State of Uttar Pradesh. The petitioner executed its obligation, but the corporate debtor did not release the payment to the petitioner. The petitioner had raised the Bills as per the
…Fateh Bahadur Singh, proprietor of Maa Sharda Traders, is the Operational Creditor. M/s APS Hydro Private Limited is the Corporate Debtor. The Corporate Debtor placed a work order dated 2018-05-01 for the supply of WMM & Aggregated for the project, Development and Operation of Raebareli Ring Road in the State of Uttar Pradesh. The Operational Creditor executed its obligation, but the Corporate Debtor did not release the payment. The Corporate Debtor is indebted to the petitioner for the principal amount of Rs. 62,75,848/- along with interest @ 24% p.a. upto 2020-02-15 of Rs. 15,10,330/-, having the total sum of debt amount of Rs. 77,86,178/-. The petitioner sent a demand notice dated 2020-02-15 under section 8 of the I & B Code, 2016. The claim amount in the
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Corporate Debtor placed…
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The case pertains to a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Fateh Bahadur Singh, Proprietor of Maa Sharda Traders (Operational Creditor), against M/s APS Hydro Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly failed to liquidate outstanding dues to the Operational Creditor. The Corporate Debtor had placed a work order dated 2018-05-01 to the Petitioner for the supply of WMM & Aggregated for the project, Development and Operation of Raebareli Ring Road in the State of Uttar Pradesh. The petitioner executed its obligation, but the corporate debtor did not release the payment to the petitioner. The petitioner had raised the Bills as per the
…Fateh Bahadur Singh, proprietor of Maa Sharda Traders, is the Operational Creditor. M/s APS Hydro Private Limited is the Corporate Debtor. The Corporate Debtor placed a work order dated 2018-05-01 for the supply of WMM & Aggregated for the project, Development and Operation of Raebareli Ring Road in the State of Uttar Pradesh. The Operational Creditor executed its obligation, but the Corporate Debtor did not release the payment. The Corporate Debtor is indebted to the petitioner for the principal amount of Rs. 62,75,848/- along with interest @ 24% p.a. upto 2020-02-15 of Rs. 15,10,330/-, having the total sum of debt amount of Rs. 77,86,178/-. The petitioner sent a demand notice dated 2020-02-15 under section 8 of the I & B Code, 2016. The claim amount in the
…Corporate Debtor placed…
Petitioner sent a…