Amrik Singh & Sons Crane Services Private Limited filed a company petition against Capacite Structures Limited, initiating the Corporate Insolvency Resolution Process (CIRP). The petitioner alleged that the corporate debtor defaulted on a payment of Rs. 21,91,982/- on 13.06.2017. The petitioner provided equipment rental services, including cranes, to the corporate debtor under a contract from 2016-2017.
Amrik Singh & Sons Crane Services Private Limited (the Petitioner) provided equipment rental services, including cranes, to Capacite Structures Limited (the Corporate Debtor) under a contract from 2016-2017. The Petitioner duly supplied the equipment and raised tax invoices, totaling Rs. 21,91,982/-, which the Corporate Debtor acknowledged. The Corporate Debtor defaulted on a payment of Rs. 21,91,982/- due on 13.06.2017. After repeated requests for payment, the Petitioner issued a demand notice on 05.09.2018 under Section 8 of the Insolvency & Bankruptcy Code (IBC). The Corporate Debtor did not reply to the demand notice. During the hearing on 29.08.2019, the Corporate Debtor admitted the liability and default.
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Corporate Debtor approached the Petitioner…
Corporate Debtor…
Amrik Singh & Sons Crane Services Private Limited filed a company petition against Capacite Structures Limited, initiating the Corporate Insolvency Resolution Process (CIRP). The petitioner alleged that the corporate debtor defaulted on a payment of Rs. 21,91,982/- on 13.06.2017. The petitioner provided equipment rental services, including cranes, to the corporate debtor under a contract from 2016-2017.
Amrik Singh & Sons Crane Services Private Limited (the Petitioner) provided equipment rental services, including cranes, to Capacite Structures Limited (the Corporate Debtor) under a contract from 2016-2017. The Petitioner duly supplied the equipment and raised tax invoices, totaling Rs. 21,91,982/-, which the Corporate Debtor acknowledged. The Corporate Debtor defaulted on a payment of Rs. 21,91,982/- due on 13.06.2017. After repeated requests for payment, the Petitioner issued a demand notice on 05.09.2018 under Section 8 of the Insolvency & Bankruptcy Code (IBC). The Corporate Debtor did not reply to the demand notice. During the hearing on 29.08.2019, the Corporate Debtor admitted the liability and default.
Corporate Debtor approached the Petitioner…
Corporate Debtor…