The case involves an application filed by Kandhari Beverages Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Suzlon Energy Ltd. (Corporate Debtor). The dispute arises from a purchase order dated 19.11.2005, where Kandhari Beverages ordered five wind turbine generators (WTGs) from Suzlon Energy. Kandhari Beverages claimed a shortfall in guaranteed power generation, leading to a demand for reimbursement. Suzlon Energy acknowledged a shortfall but disputed the amount claimed and the period for which the guarantee was applicable. An arbitral award was passed in favor of Kandhari Beverages, which Suzlon Energy challenged under Section 34 of the
…Kandhari Beverages Pvt. Ltd. (Operational Creditor) placed a purchase order on 19.11.2005 with Suzlon Energy Ltd. (Corporate Debtor) for five wind turbine generators (WTGs) to be installed in Dhulia, Maharashtra. Kandhari Beverages advanced Rs. 24,56,25,000 towards the purchase. Suzlon Energy was to commission the WTGs by 28.02.2006. Four WTGs were commissioned by 29.03.2006, and the fifth by 11.05.2006. Kandhari Beverages claimed a shortfall in guaranteed power generation, citing Clause 8 of the purchase order, and demanded Rs. 4,78,53,301. Suzlon Energy acknowledged a shortfall but calculated it differently, offering Rs. 3,28,61,510.83. Kandhari Beverages disputed Suzlon Energy's calculation. An arbitral tribunal awarded Kandhari Beverages Rs. 3.30 Crores plus
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Kandhari Beverages placed a purchase order for…
Suzlon Energy…
The case involves an application filed by Kandhari Beverages Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Suzlon Energy Ltd. (Corporate Debtor). The dispute arises from a purchase order dated 19.11.2005, where Kandhari Beverages ordered five wind turbine generators (WTGs) from Suzlon Energy. Kandhari Beverages claimed a shortfall in guaranteed power generation, leading to a demand for reimbursement. Suzlon Energy acknowledged a shortfall but disputed the amount claimed and the period for which the guarantee was applicable. An arbitral award was passed in favor of Kandhari Beverages, which Suzlon Energy challenged under Section 34 of the
…Kandhari Beverages Pvt. Ltd. (Operational Creditor) placed a purchase order on 19.11.2005 with Suzlon Energy Ltd. (Corporate Debtor) for five wind turbine generators (WTGs) to be installed in Dhulia, Maharashtra. Kandhari Beverages advanced Rs. 24,56,25,000 towards the purchase. Suzlon Energy was to commission the WTGs by 28.02.2006. Four WTGs were commissioned by 29.03.2006, and the fifth by 11.05.2006. Kandhari Beverages claimed a shortfall in guaranteed power generation, citing Clause 8 of the purchase order, and demanded Rs. 4,78,53,301. Suzlon Energy acknowledged a shortfall but calculated it differently, offering Rs. 3,28,61,510.83. Kandhari Beverages disputed Suzlon Energy's calculation. An arbitral tribunal awarded Kandhari Beverages Rs. 3.30 Crores plus
…Kandhari Beverages placed a purchase order for…
Suzlon Energy…