ASK Energy Solutions Private Limited filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking the Corporate Insolvency Resolution Process (CIRP) against Shri Saikrupa Sugar & Allied Industries Limited, the Corporate Debtor. The petition was based on the Corporate Debtor's alleged default in payment of Rs. 1,03,28,901/-. The Petitioner provided commissioning support, operation, maintenance, and management services to the Corporate Debtor, a public limited company engaged in the sugar and allied services business. An Operation and Maintenance Agreement was executed between the parties on 20.03.2018. The Corporate Debtor failed to pay the O & M fees as agreed upon in the agreement, despite receiving services and invoices from the Petitioner.
ASK Energy Solutions Private Limited ('Petitioner') sought Corporate Insolvency Resolution Process (CIRP) against Shri Saikrupa Sugar & Allied Industries Limited ('Corporate Debtor') due to a default of Rs. 1,03,28,901/-. The Petitioner provided commissioning support, operation, maintenance, and management services in power projects, while the Corporate Debtor is a public limited company involved in sugar and allied services. An Operation and Maintenance Agreement was executed on 20.03.2018. The agreement stipulated monthly O & M fees payable by the Corporate Debtor to the Petitioner, with a credit period of seven business days from invoice receipt. The Corporate Debtor failed to pay the fees as agreed. The Petitioner raised invoices totaling Rs. 1,63,28,901/-,
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Operation and Maintenance Agreement executed…
First invoice raised by…
ASK Energy Solutions Private Limited filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking the Corporate Insolvency Resolution Process (CIRP) against Shri Saikrupa Sugar & Allied Industries Limited, the Corporate Debtor. The petition was based on the Corporate Debtor's alleged default in payment of Rs. 1,03,28,901/-. The Petitioner provided commissioning support, operation, maintenance, and management services to the Corporate Debtor, a public limited company engaged in the sugar and allied services business. An Operation and Maintenance Agreement was executed between the parties on 20.03.2018. The Corporate Debtor failed to pay the O & M fees as agreed upon in the agreement, despite receiving services and invoices from the Petitioner.
ASK Energy Solutions Private Limited ('Petitioner') sought Corporate Insolvency Resolution Process (CIRP) against Shri Saikrupa Sugar & Allied Industries Limited ('Corporate Debtor') due to a default of Rs. 1,03,28,901/-. The Petitioner provided commissioning support, operation, maintenance, and management services in power projects, while the Corporate Debtor is a public limited company involved in sugar and allied services. An Operation and Maintenance Agreement was executed on 20.03.2018. The agreement stipulated monthly O & M fees payable by the Corporate Debtor to the Petitioner, with a credit period of seven business days from invoice receipt. The Corporate Debtor failed to pay the fees as agreed. The Petitioner raised invoices totaling Rs. 1,63,28,901/-,
…Operation and Maintenance Agreement executed…
First invoice raised by…