M/s. Rajputana Constructions Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Rajasthan Land Holdings Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services rendered as per a work order. The Corporate Debtor contested the application, arguing that it is a subsidiary of Pario Developers Private Limited, which in turn is part of the IL&FS group, and is covered by a moratorium imposed by NCLAT. The Corporate Debtor also raised objections regarding the demand notice issued by the Operational Creditor.
M/s. Rajputana Constructions Private Limited (Operational Creditor) provided earth filling, site cleaning, and leveling services to M/s. Rajasthan Land Holdings Limited (Corporate Debtor) based on a work order dated 2017-09-15. The Operational Creditor raised two tax invoices: invoice no. 003 dated 2017-09-30 for Rs. 32,36,031/- and invoice no. 006 dated 2017-12-04 for Rs. 32,36,086/-, totaling Rs. 64,72,117/- (including GST). The Corporate Debtor deducted and deposited TDS of Rs. 1,09,697/- on the tax invoices. The Corporate Debtor made a payment of Rs. 39,65,335/- on 2018-06-04, but no further payments were made. The Operational Creditor issued a demand notice dated 2019-01-11 for the unpaid operational debt of Rs. 23,97,086/-. The Corporate Debtor is a public
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Corporate Debtor issued work order No.…
Operational Creditor…
M/s. Rajputana Constructions Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Rajasthan Land Holdings Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for services rendered as per a work order. The Corporate Debtor contested the application, arguing that it is a subsidiary of Pario Developers Private Limited, which in turn is part of the IL&FS group, and is covered by a moratorium imposed by NCLAT. The Corporate Debtor also raised objections regarding the demand notice issued by the Operational Creditor.
M/s. Rajputana Constructions Private Limited (Operational Creditor) provided earth filling, site cleaning, and leveling services to M/s. Rajasthan Land Holdings Limited (Corporate Debtor) based on a work order dated 2017-09-15. The Operational Creditor raised two tax invoices: invoice no. 003 dated 2017-09-30 for Rs. 32,36,031/- and invoice no. 006 dated 2017-12-04 for Rs. 32,36,086/-, totaling Rs. 64,72,117/- (including GST). The Corporate Debtor deducted and deposited TDS of Rs. 1,09,697/- on the tax invoices. The Corporate Debtor made a payment of Rs. 39,65,335/- on 2018-06-04, but no further payments were made. The Operational Creditor issued a demand notice dated 2019-01-11 for the unpaid operational debt of Rs. 23,97,086/-. The Corporate Debtor is a public
…Corporate Debtor issued work order No.…
Operational Creditor…