The case involves an application filed by Tejwant Singh, a consultant, against Associated Drilling & Services Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) due to a default in debt. The applicant provided consultancy services to the respondent company for drilling and development of tubewells and borewells, starting in April 2009. The respondent company admitted a liability of Rs. 13,57,114/- as of March 31, 2015, through confirmation of accounts. Despite repeated requests, the respondent company failed to release the admitted liability. The applicant then issued a notice under Section 8 of the Code, which also went unanswered.
Tejwant Singh, a consultant, filed an application against Associated Drilling & Services Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The dispute arose from consultancy services provided by Tejwant Singh to Associated Drilling & Services Ltd. for drilling and development of tubewells and borewells, starting in April 2009. The respondent company admitted a liability of Rs. 13,57,114/- as of March 31, 2015, through confirmation of accounts. Despite requests, the respondent did not release the payment. A Section 8 notice was issued on February 2, 2018, and sent via speed post on February 3, 2018, received on February 7, 2018, but the respondent did not reply or make any payment. The respondent argued that they were not in a position to pay,
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Respondent company approached the Applicant…
Respondent company admitted liability of Rs.…
The case involves an application filed by Tejwant Singh, a consultant, against Associated Drilling & Services Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) due to a default in debt. The applicant provided consultancy services to the respondent company for drilling and development of tubewells and borewells, starting in April 2009. The respondent company admitted a liability of Rs. 13,57,114/- as of March 31, 2015, through confirmation of accounts. Despite repeated requests, the respondent company failed to release the admitted liability. The applicant then issued a notice under Section 8 of the Code, which also went unanswered.
Tejwant Singh, a consultant, filed an application against Associated Drilling & Services Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The dispute arose from consultancy services provided by Tejwant Singh to Associated Drilling & Services Ltd. for drilling and development of tubewells and borewells, starting in April 2009. The respondent company admitted a liability of Rs. 13,57,114/- as of March 31, 2015, through confirmation of accounts. Despite requests, the respondent did not release the payment. A Section 8 notice was issued on February 2, 2018, and sent via speed post on February 3, 2018, received on February 7, 2018, but the respondent did not reply or make any payment. The respondent argued that they were not in a position to pay,
…Respondent company approached the Applicant…
Respondent company admitted liability of Rs.…