Trinity Services (India) Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process against TBEA Energy (India) Private Limited. The applicant claimed that TBEA Energy had defaulted on payments for goods and services provided between January 2012 and January 2014. The applicant alleged that despite part payments, a significant amount remained outstanding, including principal and interest. The respondent, TBEA Energy, argued that the principal amount had been paid during the pendency of the petition and that the claim for interest was not maintainable due to the absence of a specific agreement and discrepancies in the interest rate applied.
Trinity Services (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against TBEA Energy (India) Private Limited, a corporate debtor. Trinity Services claimed that TBEA Energy had defaulted on payments for goods and services provided between January 2012 and January 2014. The total claim included a principal amount of Rs. 25,42,163.31 and interest. TBEA Energy made part payments totaling Rs. 1,80,52,711/- during the relevant period. Trinity Services issued a demand notice on October 20, 2017, seeking payment of the outstanding amount with 24% interest. TBEA Energy made payments of Rs. 22,57,434/- on January 11, 2018, and Rs. 3,00,000/- on April 12, 2018, during the pendency of the
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Trinity Services provided goods and services…
The period for the…
Trinity Services (India) Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process against TBEA Energy (India) Private Limited. The applicant claimed that TBEA Energy had defaulted on payments for goods and services provided between January 2012 and January 2014. The applicant alleged that despite part payments, a significant amount remained outstanding, including principal and interest. The respondent, TBEA Energy, argued that the principal amount had been paid during the pendency of the petition and that the claim for interest was not maintainable due to the absence of a specific agreement and discrepancies in the interest rate applied.
Trinity Services (India) Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against TBEA Energy (India) Private Limited, a corporate debtor. Trinity Services claimed that TBEA Energy had defaulted on payments for goods and services provided between January 2012 and January 2014. The total claim included a principal amount of Rs. 25,42,163.31 and interest. TBEA Energy made part payments totaling Rs. 1,80,52,711/- during the relevant period. Trinity Services issued a demand notice on October 20, 2017, seeking payment of the outstanding amount with 24% interest. TBEA Energy made payments of Rs. 22,57,434/- on January 11, 2018, and Rs. 3,00,000/- on April 12, 2018, during the pendency of the
…Trinity Services provided goods and services…
The period for the…