M/s. Varsha Transport Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. J.S.R Constructions Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 38,83,325/- along with interest at 18% p.a. The Corporate Debtor disputed the claim, stating that there was a pre-existing dispute and that the claim was barred by limitation. The Petitioner issued a demand notice on 05.08.2016, which the Respondent replied to on 19.08.2016, disputing the amount. The Petitioner then issued further demand notices on 24.12.2018 and 24.09.2019, which were also replied to by the Respondent, denying the liability. The Respondent contended that the Petitioner had
…M/s. Varsha Transport Private Limited (Operational Creditor) filed CP(IB)No.17/BB/2020 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. J.S.R Constructions Private Limited (Corporate Debtor). The claim was for Rs. 38,83,325/- along with interest at 18% p.a., arising from transportation services provided by the Petitioner to the Respondent. The Corporate Debtor released a work order dated 28.12.2013, engaging the Petitioner for the transportation of bulk Bitumen VG-30. The Petitioner provided services and raised invoices, with the understanding that payment would be made within 30 days. The Respondent made part payments but allegedly defaulted on the remaining amount. The
…Sign in to view the parties.
Corporate Debtor released a work order to the…
Petitioner issued a…
Sign in to view related legal provisions.
M/s. Varsha Transport Private Limited (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. J.S.R Constructions Private Limited (Corporate Debtor) for defaulting on a payment of Rs. 38,83,325/- along with interest at 18% p.a. The Corporate Debtor disputed the claim, stating that there was a pre-existing dispute and that the claim was barred by limitation. The Petitioner issued a demand notice on 05.08.2016, which the Respondent replied to on 19.08.2016, disputing the amount. The Petitioner then issued further demand notices on 24.12.2018 and 24.09.2019, which were also replied to by the Respondent, denying the liability. The Respondent contended that the Petitioner had
…M/s. Varsha Transport Private Limited (Operational Creditor) filed CP(IB)No.17/BB/2020 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. J.S.R Constructions Private Limited (Corporate Debtor). The claim was for Rs. 38,83,325/- along with interest at 18% p.a., arising from transportation services provided by the Petitioner to the Respondent. The Corporate Debtor released a work order dated 28.12.2013, engaging the Petitioner for the transportation of bulk Bitumen VG-30. The Petitioner provided services and raised invoices, with the understanding that payment would be made within 30 days. The Respondent made part payments but allegedly defaulted on the remaining amount. The
…Corporate Debtor released a work order to the…
Petitioner issued a…
Sign in to view related legal provisions.