Deep Constructions Co., the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Balaji Heavy Lifters Private Limited, the Corporate Debtor, for unpaid construction work. The petitioner claimed that the corporate debtor failed to pay Rs. 1,42,38,334/- for construction work carried out between 2013 and July 2016. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of construction and that they had already paid Rs. 1,15,00,000/-. The Adjudicating Authority considered whether a pre-existing dispute existed before the issuance of the demand notice.
Deep Constructions Co. (Operational Creditor) carried out construction work for Balaji Heavy Lifters Private Limited (Corporate Debtor) between 2013 and July 2016. The total amount due for the work was Rs. 1,42,38,334/-. The Corporate Debtor acknowledged the liability by way of signed confirmation of balance dated 31.3.2015 and 31.3.2016. The Operational Creditor issued a Demand Notice dated 10.7.2017. The Corporate Debtor claimed that the construction was of inferior quality and that they had already paid Rs. 1,15,00,000/-. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of construction. The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor did not raise any
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Deep Constructions Co.…
Deep Constructions Co. completed construction…
Deep Constructions Co., the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Balaji Heavy Lifters Private Limited, the Corporate Debtor, for unpaid construction work. The petitioner claimed that the corporate debtor failed to pay Rs. 1,42,38,334/- for construction work carried out between 2013 and July 2016. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of construction and that they had already paid Rs. 1,15,00,000/-. The Adjudicating Authority considered whether a pre-existing dispute existed before the issuance of the demand notice.
Deep Constructions Co. (Operational Creditor) carried out construction work for Balaji Heavy Lifters Private Limited (Corporate Debtor) between 2013 and July 2016. The total amount due for the work was Rs. 1,42,38,334/-. The Corporate Debtor acknowledged the liability by way of signed confirmation of balance dated 31.3.2015 and 31.3.2016. The Operational Creditor issued a Demand Notice dated 10.7.2017. The Corporate Debtor claimed that the construction was of inferior quality and that they had already paid Rs. 1,15,00,000/-. The Corporate Debtor argued that there was a pre-existing dispute regarding the quality of construction. The Operational Creditor filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor did not raise any
…Deep Constructions Co.…
Deep Constructions Co. completed construction…