The case involves a Company Petition filed by Janssica Equipment and Marketing Co. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against Techno Unique Infratech Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for equipment hired for a project in Madhya Pradesh.
Janssica Equipment and Marketing Co. (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Techno Unique Infratech Private Limited (Corporate Debtor) for initiating CIRP. The Corporate Debtor had approached the Operational Creditor for hiring equipment named “BOOM PLACER 36 METER (PUTZMEISTER)” for a project in Madhya Pradesh, agreeing to pay Rs. 4,50,000 per month excluding taxes. A work order was issued on 2017-08-30 for a limited period of 6 months, with a 30-day notice required for termination or extension. The Operational Creditor offered the equipment on hire from 2017-09-06 to 2018-10-31. Payments were not received on time, despite an agreement for payment within 20 days of the invoice date. The
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Corporate Debtor issued…
Operational Creditor…
The case involves a Company Petition filed by Janssica Equipment and Marketing Co. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against Techno Unique Infratech Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on payments for equipment hired for a project in Madhya Pradesh.
Janssica Equipment and Marketing Co. (Operational Creditor) filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Techno Unique Infratech Private Limited (Corporate Debtor) for initiating CIRP. The Corporate Debtor had approached the Operational Creditor for hiring equipment named “BOOM PLACER 36 METER (PUTZMEISTER)” for a project in Madhya Pradesh, agreeing to pay Rs. 4,50,000 per month excluding taxes. A work order was issued on 2017-08-30 for a limited period of 6 months, with a 30-day notice required for termination or extension. The Operational Creditor offered the equipment on hire from 2017-09-06 to 2018-10-31. Payments were not received on time, despite an agreement for payment within 20 days of the invoice date. The
…Corporate Debtor issued…
Operational Creditor…