Balaji Enterprises filed a Company Petition for initiation of Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gammon India Ltd., alleging default in payment for sub-contract work done at Ennore and hire charges for scaffolding materials at a construction site in Bangalore. The Operational Creditor claimed defaults on 29.11.2016 and 28.10.2015, relating to payments of Rs.65,80,536/- and Rs.93,72,026/-, respectively. The Corporate Debtor denied the liability, stating that the amount claimed had already been paid and the claim amount was incorrect.
Balaji Enterprises (Operational Creditor) filed a petition against Gammon India Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, claiming default in payments. The claim consisted of two parts: Rs. 65,80,536/- for sub-contract work at Ennore (defaulted on 29.11.2016) and Rs. 93,72,026/- for hire charges of scaffolding materials at a Bangalore construction site (defaulted on 28.10.2015). The Ennore sub-contract was based on a work order dated 27.02.2010, with a value of Rs. 81,01,700/- and a Letter of Intent dated 28.09.2010, with an agreed price of Rs. 32,11,200/-. The Operational Creditor relied on an email dated 20.07.2013, stating an outstanding amount of Rs. 49,51,249.46. The Corporate Debtor made partial payments of Rs. 6,00,000/- on 06.11.2013 and Rs.
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Gammon India Ltd. issued Work Order…
Gammon India Ltd. issued a Letter of Intent to…
Balaji Enterprises filed a Company Petition for initiation of Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Gammon India Ltd., alleging default in payment for sub-contract work done at Ennore and hire charges for scaffolding materials at a construction site in Bangalore. The Operational Creditor claimed defaults on 29.11.2016 and 28.10.2015, relating to payments of Rs.65,80,536/- and Rs.93,72,026/-, respectively. The Corporate Debtor denied the liability, stating that the amount claimed had already been paid and the claim amount was incorrect.
Balaji Enterprises (Operational Creditor) filed a petition against Gammon India Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016, claiming default in payments. The claim consisted of two parts: Rs. 65,80,536/- for sub-contract work at Ennore (defaulted on 29.11.2016) and Rs. 93,72,026/- for hire charges of scaffolding materials at a Bangalore construction site (defaulted on 28.10.2015). The Ennore sub-contract was based on a work order dated 27.02.2010, with a value of Rs. 81,01,700/- and a Letter of Intent dated 28.09.2010, with an agreed price of Rs. 32,11,200/-. The Operational Creditor relied on an email dated 20.07.2013, stating an outstanding amount of Rs. 49,51,249.46. The Corporate Debtor made partial payments of Rs. 6,00,000/- on 06.11.2013 and Rs.
…Gammon India Ltd. issued Work Order…
Gammon India Ltd. issued a Letter of Intent to…