The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Nuvoco Vistas Corporation Limited (formerly known as Lafarge India Limited) against Soho Infrastructure Private Limited for initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of ready-mix concrete. The corporate debtor contested the application, asserting a pre-existing dispute and questioning the applicant's locus standi.
Nuvoco Vistas Corporation Limited (formerly Lafarge India Limited) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Soho Infrastructure Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). Nuvoco Vistas, the operational creditor, claimed that Soho Infrastructure, the corporate debtor, defaulted on payments for the supply of ready-mix concrete. The applicant supplied ready mix concrete to the corporate debtor at various project sites based on purchase orders issued by the corporate debtor. Invoices were raised and issued to the corporate debtor for these supplies. The applicant claimed that payments became due from invoices dated between 2015-12-04 and 2016-10-30. A cheque for Rs. 11,70,000
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Applicant supplied ready mix concrete to the…
Payments became due…
The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Nuvoco Vistas Corporation Limited (formerly known as Lafarge India Limited) against Soho Infrastructure Private Limited for initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for the supply of ready-mix concrete. The corporate debtor contested the application, asserting a pre-existing dispute and questioning the applicant's locus standi.
Nuvoco Vistas Corporation Limited (formerly Lafarge India Limited) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Soho Infrastructure Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). Nuvoco Vistas, the operational creditor, claimed that Soho Infrastructure, the corporate debtor, defaulted on payments for the supply of ready-mix concrete. The applicant supplied ready mix concrete to the corporate debtor at various project sites based on purchase orders issued by the corporate debtor. Invoices were raised and issued to the corporate debtor for these supplies. The applicant claimed that payments became due from invoices dated between 2015-12-04 and 2016-10-30. A cheque for Rs. 11,70,000
…Applicant supplied ready mix concrete to the…
Payments became due…