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 Operational Creditor claimed to have supplied spare parts, accessories, and components to the Corporate Debtor, with an invoice dated 11th August 2016, based on purchase orders from 2015 and 2019. The 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 responsible for making direct payments to the Petitioner. The Corporate Debtor also argued that the petition was
…M/s. I & B Engineers (P) Limited (Operational Creditor) claimed that M/s. Scorpio Engineering Private Limited (Corporate Debtor) defaulted on a total amount of Rs. 79,03,739.00, including interest at 24% p.a. up to June 21, 2019, for the supply of spare parts, accessories, and components of plant and machinery. The goods were supplied based on purchase orders placed during 2015 and 2019, with an invoice dated August 11, 2016. The Corporate Debtor argued that a tripartite agreement existed with Indian Power Corporate Haldia Limited (IPCHL), now known as Hiranmaye Energy Limited, where IPCHL was responsible for making direct payments to the Operational Creditor. The Corporate Debtor stated that the Operational Creditor was aware of this arrangement and had received
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Operational Creditor…
Interest calcu…
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 Operational Creditor claimed to have supplied spare parts, accessories, and components to the Corporate Debtor, with an invoice dated 11th August 2016, based on purchase orders from 2015 and 2019. The 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 responsible for making direct payments to the Petitioner. The Corporate Debtor also argued that the petition was
…M/s. I & B Engineers (P) Limited (Operational Creditor) claimed that M/s. Scorpio Engineering Private Limited (Corporate Debtor) defaulted on a total amount of Rs. 79,03,739.00, including interest at 24% p.a. up to June 21, 2019, for the supply of spare parts, accessories, and components of plant and machinery. The goods were supplied based on purchase orders placed during 2015 and 2019, with an invoice dated August 11, 2016. The Corporate Debtor argued that a tripartite agreement existed with Indian Power Corporate Haldia Limited (IPCHL), now known as Hiranmaye Energy Limited, where IPCHL was responsible for making direct payments to the Operational Creditor. The Corporate Debtor stated that the Operational Creditor was aware of this arrangement and had received
…Operational Creditor…
Interest calcu…