The case involves an Insolvency and Bankruptcy Application (IBA) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Affordable Housing International Limited (Operational Creditor) against M/s. Oragadam City Developers Private Limited (Corporate Debtor). The Corporate Debtor allegedly defaulted on paying a claim despite an Arbitration Award passed on 17.04.2017, which awarded USD 25000 to the Applicant. The Applicant and Corporate Debtor entered into a Construction Agreement on 18.05.2012, but the Corporate Debtor allegedly reneged on the agreement obligations. The Applicant incurred expenditure providing services. The matter went before the Supreme Court of India, which appointed Justice Mukul Mudgal as Arbitrator. The Arbitrator passed an
…M/s. Affordable Housing International Limited (Operational Creditor) filed an Insolvency and Bankruptcy Application (IBA) against M/s. Oragadam City Developers Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The basis for the application was the Corporate Debtor's alleged default in paying a claim. An Arbitration Award was passed on 17.04.2017, awarding USD 25000 to the Applicant, payable within six weeks from 17.04.2017, with interest at 2% above the current rate. The Applicant and Corporate Debtor had entered into a Construction Agreement on 18.05.2012 for a project in Innogeo City, Villagam Village, Oragadam. The Corporate Debtor allegedly reneged on the agreement, despite the Applicant having started implementing its
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The case involves an Insolvency and Bankruptcy Application (IBA) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Affordable Housing International Limited (Operational Creditor) against M/s. Oragadam City Developers Private Limited (Corporate Debtor). The Corporate Debtor allegedly defaulted on paying a claim despite an Arbitration Award passed on 17.04.2017, which awarded USD 25000 to the Applicant. The Applicant and Corporate Debtor entered into a Construction Agreement on 18.05.2012, but the Corporate Debtor allegedly reneged on the agreement obligations. The Applicant incurred expenditure providing services. The matter went before the Supreme Court of India, which appointed Justice Mukul Mudgal as Arbitrator. The Arbitrator passed an
…M/s. Affordable Housing International Limited (Operational Creditor) filed an Insolvency and Bankruptcy Application (IBA) against M/s. Oragadam City Developers Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The basis for the application was the Corporate Debtor's alleged default in paying a claim. An Arbitration Award was passed on 17.04.2017, awarding USD 25000 to the Applicant, payable within six weeks from 17.04.2017, with interest at 2% above the current rate. The Applicant and Corporate Debtor had entered into a Construction Agreement on 18.05.2012 for a project in Innogeo City, Villagam Village, Oragadam. The Corporate Debtor allegedly reneged on the agreement, despite the Applicant having started implementing its
…Applicant and Corporate…
Arbitration Award…