M/s Suntech Infra Solutions Pvt. Ltd. (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) to initiate corporate insolvency resolution process (CIRP) against M/s Shri Balaji Infradevelopers Pvt. Ltd. (the Respondent) for alleged default of Rs. 39,11,176/-. The Applicant claimed this amount was due for construction activities. The Respondent was contracted by Tata Projects Limited (TPL) for a project, and the Applicant was a sub-contractor. The Applicant raised invoices for work done at Shilpgram and Mughal Museum sites in Agra, U.P. The Respondent failed to clear the invoices despite completion of work. The Applicant sent demand notices to the Respondent, who replied with contentions, including a claim that the
…M/s Suntech Infra Solutions Pvt. Ltd. (Applicant) sought to initiate CIRP against M/s Shri Balaji Infradevelopers Pvt. Ltd. (Respondent) under Section 9 of the IBC, 2016, for a default of Rs. 39,11,176/-. The Applicant is a company involved in construction. The Respondent issued a work order/LOI No. SBIPL-GS(JV)/WO/2016-17/AGRA/002 dated 12.07.2016 to the Applicant for piling work at Shilpgram and Mughal Museum sites in Agra, U.P. The Applicant raised invoices for work done between 01.08.2016 and 04.11.2016. The Respondent failed to clear invoices amounting to Rs. 26,86,143/-. The total outstanding debt as of 22.08.2018 was Rs. 39,11,176/-, including the principal amount of Rs. 26,86,143/-. The total outstanding debt as of the application date was Rs. 40,90,704/-. The
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M/s Suntech Infra Solutions Pvt. Ltd. (the Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) to initiate corporate insolvency resolution process (CIRP) against M/s Shri Balaji Infradevelopers Pvt. Ltd. (the Respondent) for alleged default of Rs. 39,11,176/-. The Applicant claimed this amount was due for construction activities. The Respondent was contracted by Tata Projects Limited (TPL) for a project, and the Applicant was a sub-contractor. The Applicant raised invoices for work done at Shilpgram and Mughal Museum sites in Agra, U.P. The Respondent failed to clear the invoices despite completion of work. The Applicant sent demand notices to the Respondent, who replied with contentions, including a claim that the
…M/s Suntech Infra Solutions Pvt. Ltd. (Applicant) sought to initiate CIRP against M/s Shri Balaji Infradevelopers Pvt. Ltd. (Respondent) under Section 9 of the IBC, 2016, for a default of Rs. 39,11,176/-. The Applicant is a company involved in construction. The Respondent issued a work order/LOI No. SBIPL-GS(JV)/WO/2016-17/AGRA/002 dated 12.07.2016 to the Applicant for piling work at Shilpgram and Mughal Museum sites in Agra, U.P. The Applicant raised invoices for work done between 01.08.2016 and 04.11.2016. The Respondent failed to clear invoices amounting to Rs. 26,86,143/-. The total outstanding debt as of 22.08.2018 was Rs. 39,11,176/-, including the principal amount of Rs. 26,86,143/-. The total outstanding debt as of the application date was Rs. 40,90,704/-. The
…Respondent issued work…
Applicant raised…