Pooja Engineering Company filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Overseas Infrastructure Alliance (India) Private Limited, alleging default in payment of Rs. 54,02,387/- along with interest. The Corporate Debtor had issued purchase orders to the Petitioner for the supply of pumpsets. The Corporate Debtor contended that the contract with the Project Implementing Agency, DAWASA, was terminated, and the Petitioner was informed about the closure of the purchase orders. The Petitioner claimed that the Corporate Debtor provided incomplete technical documents and that the material was ready for inspection. The Corporate Debtor argued that no supply of materials was done by the Petitioner and that the alleged
…Pooja Engineering Company (Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Overseas Infrastructure Alliance (India) Private Limited (Corporate Debtor) due to an alleged default of Rs. 54,02,387/- including interest. The Corporate Debtor had issued purchase orders for pumpsets. The Petitioner claims the machines were ready for inspection, but the Corporate Debtor failed to inspect and dispatch the material, citing termination of their main contract with DAWASA in Tanzania. A demand notice was served under Section 8 of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor responded by raising a dispute, stating the contract was cancelled and informing the Petitioner. The Corporate Debtor contends that the
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Corporate Debtor issued…
Corporate Debtor issued…
Pooja Engineering Company filed a Company Petition seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Overseas Infrastructure Alliance (India) Private Limited, alleging default in payment of Rs. 54,02,387/- along with interest. The Corporate Debtor had issued purchase orders to the Petitioner for the supply of pumpsets. The Corporate Debtor contended that the contract with the Project Implementing Agency, DAWASA, was terminated, and the Petitioner was informed about the closure of the purchase orders. The Petitioner claimed that the Corporate Debtor provided incomplete technical documents and that the material was ready for inspection. The Corporate Debtor argued that no supply of materials was done by the Petitioner and that the alleged
…Pooja Engineering Company (Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Overseas Infrastructure Alliance (India) Private Limited (Corporate Debtor) due to an alleged default of Rs. 54,02,387/- including interest. The Corporate Debtor had issued purchase orders for pumpsets. The Petitioner claims the machines were ready for inspection, but the Corporate Debtor failed to inspect and dispatch the material, citing termination of their main contract with DAWASA in Tanzania. A demand notice was served under Section 8 of the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor responded by raising a dispute, stating the contract was cancelled and informing the Petitioner. The Corporate Debtor contends that the
…Corporate Debtor issued…
Corporate Debtor issued…