Godrej & Boyce Mfg. Co. Ltd. filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Technic Projects Constructions Pvt. Ltd. The claim was for an operational debt of Rs. 43,05,872.35/-. The Operational Creditor claimed that the Corporate Debtor defaulted in making payments for the supply of Ready Mix Concrete (RMC) for projects of Xrbia Developers Limited. The Corporate Debtor acknowledged a liability of Rs. 28,53,525/- for the Vangani site and Rs. 5,00,449/- for the Madap site in letters dated April 12, 2018.
Godrej & Boyce Mfg. Co. Ltd. (Operational Creditor) filed a petition against Technic Projects Constructions Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an operational debt of Rs. 43,05,872.35/-. The debt arose from the supply of Ready Mix Concrete (RMC) to the Corporate Debtor for projects of Xrbia Developers Limited. The Operational Creditor submitted quotations and the Corporate Debtor issued purchase orders. The total value of invoices raised was Rs. 52,31,004.91/-, out of which Rs. 18,45,497.46/- was paid, leaving a balance of Rs. 33,85,507.45/-. The Corporate Debtor acknowledged a liability of Rs. 28,53,525/- for the Vangani site and Rs. 5,00,449/- for the Madap site in letters dated
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The Corporate Debtor sent two letters…
The Operational Creditor issued a demand…
Godrej & Boyce Mfg. Co. Ltd. filed a company petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Technic Projects Constructions Pvt. Ltd. The claim was for an operational debt of Rs. 43,05,872.35/-. The Operational Creditor claimed that the Corporate Debtor defaulted in making payments for the supply of Ready Mix Concrete (RMC) for projects of Xrbia Developers Limited. The Corporate Debtor acknowledged a liability of Rs. 28,53,525/- for the Vangani site and Rs. 5,00,449/- for the Madap site in letters dated April 12, 2018.
Godrej & Boyce Mfg. Co. Ltd. (Operational Creditor) filed a petition against Technic Projects Constructions Pvt. Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP for an operational debt of Rs. 43,05,872.35/-. The debt arose from the supply of Ready Mix Concrete (RMC) to the Corporate Debtor for projects of Xrbia Developers Limited. The Operational Creditor submitted quotations and the Corporate Debtor issued purchase orders. The total value of invoices raised was Rs. 52,31,004.91/-, out of which Rs. 18,45,497.46/- was paid, leaving a balance of Rs. 33,85,507.45/-. The Corporate Debtor acknowledged a liability of Rs. 28,53,525/- for the Vangani site and Rs. 5,00,449/- for the Madap site in letters dated
…The Corporate Debtor sent two letters…
The Operational Creditor issued a demand…