Superwave Communication and Infrasolution Private Limited (Operational Creditor/Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Rayways Infra Projects Private Limited (Corporate Debtor/Respondent) for the initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 1,22,33,029/- (excluding interest) with a default date of 04.01.2024, arising from the supply and installation of goods for the Ahmednagar Bypass project. The Corporate Debtor had made a part payment of Rs. 60,00,000/- but failed to pay the remaining amount despite repeated demands. The Corporate Debtor raised several defenses, including non-service of demand notice, non-compliance with IBBI regulations,
…Superwave Communication and Infrasolution Private Limited (Operational Creditor/Applicant/SCAIPL) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The application was filed against Rayways Infra Projects Private Limited (Corporate Debtor/Respondent) for the initiation of Corporate Insolvency Resolution Process (CIRP).
The default amount claimed is Rs. 1,22,33,029/- excluding interest.
The date of default is 04.01.2024.
The Applicant is engaged in the business of construction and maintenance of highways and toll plazas, and the Corporate Debtor is in a similar business.
The Operational Creditor was awarded work for the Ahmednagar Bypass project via Project Work order No. 0125-2023 dated 12.10.2023.
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Project Work order No. 0125-2023 issued by…
Part payment of Rs.…
Superwave Communication and Infrasolution Private Limited (Operational Creditor/Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Rayways Infra Projects Private Limited (Corporate Debtor/Respondent) for the initiation of Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 1,22,33,029/- (excluding interest) with a default date of 04.01.2024, arising from the supply and installation of goods for the Ahmednagar Bypass project. The Corporate Debtor had made a part payment of Rs. 60,00,000/- but failed to pay the remaining amount despite repeated demands. The Corporate Debtor raised several defenses, including non-service of demand notice, non-compliance with IBBI regulations,
…Superwave Communication and Infrasolution Private Limited (Operational Creditor/Applicant/SCAIPL) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The application was filed against Rayways Infra Projects Private Limited (Corporate Debtor/Respondent) for the initiation of Corporate Insolvency Resolution Process (CIRP).
The default amount claimed is Rs. 1,22,33,029/- excluding interest.
The date of default is 04.01.2024.
The Applicant is engaged in the business of construction and maintenance of highways and toll plazas, and the Corporate Debtor is in a similar business.
The Operational Creditor was awarded work for the Ahmednagar Bypass project via Project Work order No. 0125-2023 dated 12.10.2023.
…Project Work order No. 0125-2023 issued by…
Part payment of Rs.…