The case involves an application filed by Relief Infrastructures, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ashirbad Real Estate & Transport Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for work done, leading to the application for CIRP. The Corporate Debtor disputed the claim, asserting that the application was not maintainable due to the applicant being an unregistered partnership firm, the application being time-barred, pre-existing disputes, and no amount being due.
Relief Infrastructures, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Ashirbad Real Estate & Transport Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor had issued a work order around February 10, 2015, and in the course of performing the work, the operational creditor raised three RA bills totaling Rs. 2,01,70,551. The corporate debtor paid Rs. 66,00,000, leaving a remaining amount of Rs. 1,35,70,551 due. The operational creditor claimed that the amount in default, including interest, was Rs. 2,04,91,532 from August 1, 2015. The corporate debtor had paid TDS on the bills but later asked
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The Corporate Debtor…
The Corporate Debtor…
The case involves an application filed by Relief Infrastructures, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ashirbad Real Estate & Transport Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for work done, leading to the application for CIRP. The Corporate Debtor disputed the claim, asserting that the application was not maintainable due to the applicant being an unregistered partnership firm, the application being time-barred, pre-existing disputes, and no amount being due.
Relief Infrastructures, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Ashirbad Real Estate & Transport Private Limited, the corporate debtor. The operational creditor claimed that the corporate debtor had issued a work order around February 10, 2015, and in the course of performing the work, the operational creditor raised three RA bills totaling Rs. 2,01,70,551. The corporate debtor paid Rs. 66,00,000, leaving a remaining amount of Rs. 1,35,70,551 due. The operational creditor claimed that the amount in default, including interest, was Rs. 2,04,91,532 from August 1, 2015. The corporate debtor had paid TDS on the bills but later asked
…The Corporate Debtor…
The Corporate Debtor…