The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Loyal Scaffolding Pvt. Ltd. (Operational Creditor) against Goyala Infras. Projects Pvt. Ltd. (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed default in payment for scaffolding products rented to the Corporate Debtor. Mutual discussions occurred on 2017-03-18, agreeing to rent scaffolding products. The terms included rent per day, quantity, and damages for missing items. The Corporate Debtor denied the claim, stating the material was not as per order, unusable, and remained unused. The Corporate Debtor also claimed they are not liable to pay rent for a specific period due to a shortfall of material
…Loyal Scaffolding Pvt. Ltd. (Operational Creditor) supplied scaffolding products to Goyala Infras. Projects Pvt. Ltd. (Corporate Debtor) based on an agreement dated 2017-03-18. The agreement included terms for rent, quantity, and damages. The Operational Creditor claimed outstanding dues of Rs. 56,59,008.64. The Corporate Debtor contended that the supplied material was not as per the order, unusable, and remained unused. They also claimed they were not liable to pay rent for a specific period due to a shortfall of material. The Corporate Debtor issued four cheques for Rs. 20.00 lakhs, three of which were dishonored. The Operational Creditor sent a notice under Section 8 of the I&B Code, 2016, to which the Corporate Debtor replied, denying the claim. The Corporate
…Sign in to view the parties.
Mutual discussions between the parties wherein…
Supply of 2100 units…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Loyal Scaffolding Pvt. Ltd. (Operational Creditor) against Goyala Infras. Projects Pvt. Ltd. (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed default in payment for scaffolding products rented to the Corporate Debtor. Mutual discussions occurred on 2017-03-18, agreeing to rent scaffolding products. The terms included rent per day, quantity, and damages for missing items. The Corporate Debtor denied the claim, stating the material was not as per order, unusable, and remained unused. The Corporate Debtor also claimed they are not liable to pay rent for a specific period due to a shortfall of material
…Loyal Scaffolding Pvt. Ltd. (Operational Creditor) supplied scaffolding products to Goyala Infras. Projects Pvt. Ltd. (Corporate Debtor) based on an agreement dated 2017-03-18. The agreement included terms for rent, quantity, and damages. The Operational Creditor claimed outstanding dues of Rs. 56,59,008.64. The Corporate Debtor contended that the supplied material was not as per the order, unusable, and remained unused. They also claimed they were not liable to pay rent for a specific period due to a shortfall of material. The Corporate Debtor issued four cheques for Rs. 20.00 lakhs, three of which were dishonored. The Operational Creditor sent a notice under Section 8 of the I&B Code, 2016, to which the Corporate Debtor replied, denying the claim. The Corporate
…Mutual discussions between the parties wherein…
Supply of 2100 units…