M/s. Manojna Enterprises filed C.P.(IB)No.302/BB/2019 under Section 9 of the IBC, 2016, read with Rule 6 of I&B (AAA) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. R.J. Rishikaran Projects Private Limited, alleging a default of Rs.49,24,887.48/-. The Operational Creditor claimed to have completed water proofing and cinder concrete works for the Corporate Debtor, who allegedly defaulted on payments. The Corporate Debtor opposed the petition, citing defective services and breach of contract, and had also initiated criminal proceedings and approached MSEFC. The Operational Creditor also filed a complaint under Section 200 of the Code of Criminal Procedure before the XXI Additional Chief Metropolitan Magistrate at
…M/s. Manojna Enterprises (Operational Creditor) claimed that M/s. R.J. Rishikaran Projects Private Limited (Corporate Debtor) defaulted on a payment of Rs.49,24,887.48/- for water proofing and cinder concrete works. The Operational Creditor was awarded works worth Rs.1,02,47,640/-. The Corporate Debtor issued work orders and the Operational Creditor commenced work on 13th September 2016. The Corporate Debtor issued a work completion letter on 10th December 2018 for Rs.78,75,565/- excluding GST. The Corporate Debtor issued post-dated cheques totaling Rs.42,66,600/- on 15th March 2019. Cheque No. 003281 was honored, but Cheque No. 003282 was rejected due to 'payment stopped by drawer'. The Corporate Debtor made a part payment of Rs.2,00,000/- on 16th May 2019. The
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M/s. Manojna Enterprises filed C.P.(IB)No.302/BB/2019 under Section 9 of the IBC, 2016, read with Rule 6 of I&B (AAA) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. R.J. Rishikaran Projects Private Limited, alleging a default of Rs.49,24,887.48/-. The Operational Creditor claimed to have completed water proofing and cinder concrete works for the Corporate Debtor, who allegedly defaulted on payments. The Corporate Debtor opposed the petition, citing defective services and breach of contract, and had also initiated criminal proceedings and approached MSEFC. The Operational Creditor also filed a complaint under Section 200 of the Code of Criminal Procedure before the XXI Additional Chief Metropolitan Magistrate at
…M/s. Manojna Enterprises (Operational Creditor) claimed that M/s. R.J. Rishikaran Projects Private Limited (Corporate Debtor) defaulted on a payment of Rs.49,24,887.48/- for water proofing and cinder concrete works. The Operational Creditor was awarded works worth Rs.1,02,47,640/-. The Corporate Debtor issued work orders and the Operational Creditor commenced work on 13th September 2016. The Corporate Debtor issued a work completion letter on 10th December 2018 for Rs.78,75,565/- excluding GST. The Corporate Debtor issued post-dated cheques totaling Rs.42,66,600/- on 15th March 2019. Cheque No. 003281 was honored, but Cheque No. 003282 was rejected due to 'payment stopped by drawer'. The Corporate Debtor made a part payment of Rs.2,00,000/- on 16th May 2019. The
…Applicant commenced the…
The work order dated 10th September 2016 was…