The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Aditi Engineering, an Operational Creditor, against Tecpro Engineers Limited, a Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had defaulted on payments for services rendered related to electrical work and installation at two sites. The Corporate Debtor acknowledged the debt but cited financial constraints as the reason for non-payment. The Operational Creditor had sent demand notices and final demand notices, but the Corporate Debtor failed to honor the demands.
M/s. Aditi Engineering, an Operational Creditor, filed an application against Tecpro Engineers Limited, a Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor is a proprietorship firm engaged in the business of installation, erection, testing, and commissioning of electrical items. The Corporate Debtor was incorporated on 31.05.2005. The Operational Creditor entered into contracts with the Corporate Debtor through letters of intent dated 20.05.2010 and 27.12.2010 for electrical work at Rajwest Power, Bhardesh Site, Barmer, Rajasthan, and REL-Parichha Site, Jhansi, U.P., respectively. The total amount due from the Corporate Debtor was Rs. 9,00,285.43/-. The Corporate Debtor released Rs. 5,26,673.00 on 01.08.2012,
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Operational Creditor entered into a contract…
Operational Creditor entered into a contract…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s. Aditi Engineering, an Operational Creditor, against Tecpro Engineers Limited, a Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor had defaulted on payments for services rendered related to electrical work and installation at two sites. The Corporate Debtor acknowledged the debt but cited financial constraints as the reason for non-payment. The Operational Creditor had sent demand notices and final demand notices, but the Corporate Debtor failed to honor the demands.
M/s. Aditi Engineering, an Operational Creditor, filed an application against Tecpro Engineers Limited, a Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor is a proprietorship firm engaged in the business of installation, erection, testing, and commissioning of electrical items. The Corporate Debtor was incorporated on 31.05.2005. The Operational Creditor entered into contracts with the Corporate Debtor through letters of intent dated 20.05.2010 and 27.12.2010 for electrical work at Rajwest Power, Bhardesh Site, Barmer, Rajasthan, and REL-Parichha Site, Jhansi, U.P., respectively. The total amount due from the Corporate Debtor was Rs. 9,00,285.43/-. The Corporate Debtor released Rs. 5,26,673.00 on 01.08.2012,
…Operational Creditor entered into a contract…
Operational Creditor entered into a contract…