International Marine & Energy DMCC, an operational creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Great Unison Contractors India Pvt. Ltd. (formerly Unison Engineering & Construction Private Limited), a corporate debtor, due to a default in payment for Marine Gas Oil supplied. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor.
International Marine & Energy DMCC (IME), the operational creditor, supplied Marine Gas Oil (MGO) to Great Unison Contractors India Pvt. Ltd. (Unison), the corporate debtor. Five transactions occurred between November and December 2016, involving email communications, purchase orders, delivery notes, and invoices. Unison failed to pay the total outstanding amount of ₹3,97,58,530 as of April 3, 2018. IME issued a demand notice on June 5, 2017, seeking recovery of the unpaid operational debt, which amounted to USD 4,69,598 (₹3,02,51,882), plus interest. Unison responded on September 15, 2017, claiming it was not directly liable for payment, as it was a subcontractor, and Avantgarde was the main contractor responsible for payments. Unison also argued that the petition
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Corporate Debtor failed…
Company Petition filed…
International Marine & Energy DMCC, an operational creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Great Unison Contractors India Pvt. Ltd. (formerly Unison Engineering & Construction Private Limited), a corporate debtor, due to a default in payment for Marine Gas Oil supplied. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor.
International Marine & Energy DMCC (IME), the operational creditor, supplied Marine Gas Oil (MGO) to Great Unison Contractors India Pvt. Ltd. (Unison), the corporate debtor. Five transactions occurred between November and December 2016, involving email communications, purchase orders, delivery notes, and invoices. Unison failed to pay the total outstanding amount of ₹3,97,58,530 as of April 3, 2018. IME issued a demand notice on June 5, 2017, seeking recovery of the unpaid operational debt, which amounted to USD 4,69,598 (₹3,02,51,882), plus interest. Unison responded on September 15, 2017, claiming it was not directly liable for payment, as it was a subcontractor, and Avantgarde was the main contractor responsible for payments. Unison also argued that the petition
…Corporate Debtor failed…
Company Petition filed…