M/s Varaha Infra Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ramapati Infra Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding operational debt of Rs. 1,66,78,000/-, including interest at 18%, for construction work performed. The work involved a sub-contract for highway construction from Jalandhar to Amritsar, which the Corporate Debtor had further sub-let to the Operational Creditor.

M/s Varaha Infra Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ramapati Infra Private Limited, the Corporate Debtor. The Operational Creditor claimed an outstanding operational debt of Rs. 1,66,78,000/-, including interest at 18%, for construction work performed. The work involved a sub-contract for highway construction from Jalandhar to Amritsar, which the Corporate Debtor had further sub-let to the Operational Creditor.