The case involves an application filed by Annapurna Infrastructure Pvt. Ltd. & Ors. (the applicants) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) to initiate the Corporate Insolvency Resolution Process against M/s SORIL Infra Resources Limited (the respondent). The applicants claim to be operational creditors based on an arbitral award in their favor for unpaid rent and damages. The respondent disputes the existence of an operational debt, citing a pending appeal against the arbitral award and ongoing execution proceedings before the Delhi High Court.
Annapurna Infrastructure Pvt. Ltd. & Ors. (applicants) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against SORIL Infra Resources Limited (respondent). The applicants based their claim on an arbitral award dated 09-09-2016, which granted them Rs. 2,67,52,283/- for rent from 01-04-2008 to 22-03-2010 with 12% interest, and Rs. 1,11,56,145/- for damages. The respondent challenged the award under Section 34 of the Arbitration and Conciliation Act, 1996, but the application was dismissed on 19-12-2016. The applicants issued a demand notice on 13-01-2017 under Section 8 of the Code. The respondent replied on 27-01-2017, disputing the operational debt and stating that an appeal under
…Sign in to view the parties.
Date of the lease deed between the applicants…
The arbitrator passed an award in favor…
The case involves an application filed by Annapurna Infrastructure Pvt. Ltd. & Ors. (the applicants) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) to initiate the Corporate Insolvency Resolution Process against M/s SORIL Infra Resources Limited (the respondent). The applicants claim to be operational creditors based on an arbitral award in their favor for unpaid rent and damages. The respondent disputes the existence of an operational debt, citing a pending appeal against the arbitral award and ongoing execution proceedings before the Delhi High Court.
Annapurna Infrastructure Pvt. Ltd. & Ors. (applicants) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against SORIL Infra Resources Limited (respondent). The applicants based their claim on an arbitral award dated 09-09-2016, which granted them Rs. 2,67,52,283/- for rent from 01-04-2008 to 22-03-2010 with 12% interest, and Rs. 1,11,56,145/- for damages. The respondent challenged the award under Section 34 of the Arbitration and Conciliation Act, 1996, but the application was dismissed on 19-12-2016. The applicants issued a demand notice on 13-01-2017 under Section 8 of the Code. The respondent replied on 27-01-2017, disputing the operational debt and stating that an appeal under
…Date of the lease deed between the applicants…
The arbitrator passed an award in favor…