The case involves an application filed by Mr. Durgesh Kumar Sharma, proprietor of M/s Salasar Builders, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s North Rajasthan Buildwell Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application is based on the alleged default by the respondent in clearing a debt of Rs. 1,81,021/- for materials supplied and services provided by the applicant. The applicant claims to be engaged in the business of supplying various materials and civil works. The respondent acknowledged the debt but cited financial difficulties as the reason for non-payment.
Mr. Durgesh Kumar Sharma, operating as M/s Salasar Builders, filed an application to initiate CIRP against M/s North Rajasthan Buildwell Pvt. Ltd. The basis for the application was an unpaid debt of Rs. 1,81,021/- for materials and services provided by Sharma to Buildwell. Sharma claims to have supplied materials and carried out civil works, raising Invoice No. 103 dated 2019-04-21 for Rs. 1,60,800/-. He issued a demand notice on 2019-12-31, which Buildwell acknowledged receiving. Buildwell, in its reply, admitted to assigning the work to Sharma and acknowledged the invoice, citing financial difficulties as the reason for non-payment and expressing an intention to pay once finances were arranged. The date of default was stated as 2019-04-21, prior to the increase in
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Applicant raised Invoice No. 103 for Rs.…
Applicant issued a demand notice to the…
The case involves an application filed by Mr. Durgesh Kumar Sharma, proprietor of M/s Salasar Builders, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s North Rajasthan Buildwell Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application is based on the alleged default by the respondent in clearing a debt of Rs. 1,81,021/- for materials supplied and services provided by the applicant. The applicant claims to be engaged in the business of supplying various materials and civil works. The respondent acknowledged the debt but cited financial difficulties as the reason for non-payment.
Mr. Durgesh Kumar Sharma, operating as M/s Salasar Builders, filed an application to initiate CIRP against M/s North Rajasthan Buildwell Pvt. Ltd. The basis for the application was an unpaid debt of Rs. 1,81,021/- for materials and services provided by Sharma to Buildwell. Sharma claims to have supplied materials and carried out civil works, raising Invoice No. 103 dated 2019-04-21 for Rs. 1,60,800/-. He issued a demand notice on 2019-12-31, which Buildwell acknowledged receiving. Buildwell, in its reply, admitted to assigning the work to Sharma and acknowledged the invoice, citing financial difficulties as the reason for non-payment and expressing an intention to pay once finances were arranged. The date of default was stated as 2019-04-21, prior to the increase in
…Applicant raised Invoice No. 103 for Rs.…
Applicant issued a demand notice to the…