This case involves an application (I.A. No. 1840/KB/2019) filed by Tantia-MPPL (WILO) JV against the Resolution Professional (RP) of Tantia Constructions Limited, the corporate debtor. The applicant sought a direction from the NCLT to include its claim of Rs. 9.02 crore in the corporate debtor's insolvency resolution process. The applicant and the corporate debtor had entered into a Joint Venture Agreement (JVA) in 2014 for construction projects. Disputes arose regarding the completion of work and payments, leading to the applicant's claim. The RP rejected the claim, leading to the filing of this application before the NCLT.
Tantia-MPPL (WILO) JV and Tantia Constructions Limited (corporate debtor) entered into a Joint Venture Agreement (JVA) on 2014-02-03 for construction projects, including pumping stations and sewerage networks. The applicant's share was 20%, and the corporate debtor's share was 80%. The applicant was responsible for electro-mechanical work, while the corporate debtor was responsible for civil work. The Kolkata Municipal Corporation (KMC) awarded the tender through the Kolkata Environmental Improvement Investment Program (KEIIP). The corporate debtor failed to execute the work due to financial difficulties. An amended JVA was executed on 2018-11-29. The 54th Annual Report of the corporate debtor for 2018-2019 acknowledged a debt of Rs. 9.07 crore owed to the applicant.
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Tantia-MPPL (WILO) JV and Tantia…
The Kolkata Municipal Corporation (KMC)…
This case involves an application (I.A. No. 1840/KB/2019) filed by Tantia-MPPL (WILO) JV against the Resolution Professional (RP) of Tantia Constructions Limited, the corporate debtor. The applicant sought a direction from the NCLT to include its claim of Rs. 9.02 crore in the corporate debtor's insolvency resolution process. The applicant and the corporate debtor had entered into a Joint Venture Agreement (JVA) in 2014 for construction projects. Disputes arose regarding the completion of work and payments, leading to the applicant's claim. The RP rejected the claim, leading to the filing of this application before the NCLT.
Tantia-MPPL (WILO) JV and Tantia Constructions Limited (corporate debtor) entered into a Joint Venture Agreement (JVA) on 2014-02-03 for construction projects, including pumping stations and sewerage networks. The applicant's share was 20%, and the corporate debtor's share was 80%. The applicant was responsible for electro-mechanical work, while the corporate debtor was responsible for civil work. The Kolkata Municipal Corporation (KMC) awarded the tender through the Kolkata Environmental Improvement Investment Program (KEIIP). The corporate debtor failed to execute the work due to financial difficulties. An amended JVA was executed on 2018-11-29. The 54th Annual Report of the corporate debtor for 2018-2019 acknowledged a debt of Rs. 9.07 crore owed to the applicant.
…Tantia-MPPL (WILO) JV and Tantia…
The Kolkata Municipal Corporation (KMC)…