M/s. I & B Engineers (P) Limited filed C.P. (IB) No.372/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Scorpio Engineering Private Limited, alleging a default of Rs. 79,03,739.00, including interest. The Respondent/Corporate Debtor opposed the petition, citing a tripartite agreement involving Indian Power Corporate Haldia Limited (IPCHL), now known as Hiranmaye Energy Limited, where IPCHL was to make direct payments to the Petitioner. The Petitioner claimed the Respondent was liable for the debt, while the Respondent argued that IPCHL was responsible and that there was a pre-existing dispute.
M/s. I & B Engineers (P) Limited (Operational Creditor/Petitioner) claimed M/s. Scorpio Engineering Private Limited (Corporate Debtor/Respondent) defaulted on a total amount of Rs. 79,03,739.00, including Rs. 32,35,375.00 towards interest at 24% p.a. up to June 21, 2019. The Operational Creditor supplied spare parts, accessories, and components to the Corporate Debtor, with an invoice dated August 11, 2016, based on purchase orders from 2015 and 2019. The Corporate Debtor opposed the petition, stating they entered a contract with Indian Power Corporate Haldia Limited (IPCHL), now Hiranmaye Energy Limited, for a coal handling plant, and the Petitioner was a contractor for this project. A tripartite agreement existed where IPCHL would directly pay the Petitioner. The
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Purchase Orde…
Invoice dated 11th…
M/s. I & B Engineers (P) Limited filed C.P. (IB) No.372/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Scorpio Engineering Private Limited, alleging a default of Rs. 79,03,739.00, including interest. The Respondent/Corporate Debtor opposed the petition, citing a tripartite agreement involving Indian Power Corporate Haldia Limited (IPCHL), now known as Hiranmaye Energy Limited, where IPCHL was to make direct payments to the Petitioner. The Petitioner claimed the Respondent was liable for the debt, while the Respondent argued that IPCHL was responsible and that there was a pre-existing dispute.
M/s. I & B Engineers (P) Limited (Operational Creditor/Petitioner) claimed M/s. Scorpio Engineering Private Limited (Corporate Debtor/Respondent) defaulted on a total amount of Rs. 79,03,739.00, including Rs. 32,35,375.00 towards interest at 24% p.a. up to June 21, 2019. The Operational Creditor supplied spare parts, accessories, and components to the Corporate Debtor, with an invoice dated August 11, 2016, based on purchase orders from 2015 and 2019. The Corporate Debtor opposed the petition, stating they entered a contract with Indian Power Corporate Haldia Limited (IPCHL), now Hiranmaye Energy Limited, for a coal handling plant, and the Petitioner was a contractor for this project. A tripartite agreement existed where IPCHL would directly pay the Petitioner. The
…Purchase Orde…
Invoice dated 11th…