Tractebel Engineering Private Limited, an operational creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Transparent Energy Systems Private Limited, a corporate debtor, due to a default in payment of ₹9,00,000/- as of 03.04.2015. The operational creditor provided engineering consultancy services to the corporate debtor based on two purchase orders. Despite providing services to the satisfaction of the corporate debtor and sending final reports, payments were not released. A settlement agreement was entered into, but defaults occurred again, leading to the filing of the petition.
Tractebel Engineering Private Limited (Operational Creditor) provided engineering consultancy services to Transparent Energy Systems Private Limited (Corporate Debtor) based on two purchase orders for plants in Boyareddypalli and Ganeshpahad. The total consideration was ₹11,00,000/- each, excluding taxes. The services were provided to the satisfaction of the Corporate Debtor, and final reports were sent via email on 22.09.2015 and 08.08.2015. The Corporate Debtor failed to release payments despite a 30-day credit period. The Operational Creditor issued a demand notice on 17.10.2017 for ₹23,65,421/-, leading to a settlement agreement on 30.10.2017. Defaults occurred again, leaving a balance of ₹15,31,752/-. A fresh demand notice was issued on 22.06.2018 for
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Tractebel Engineering Private Limited, an operational creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Transparent Energy Systems Private Limited, a corporate debtor, due to a default in payment of ₹9,00,000/- as of 03.04.2015. The operational creditor provided engineering consultancy services to the corporate debtor based on two purchase orders. Despite providing services to the satisfaction of the corporate debtor and sending final reports, payments were not released. A settlement agreement was entered into, but defaults occurred again, leading to the filing of the petition.
Tractebel Engineering Private Limited (Operational Creditor) provided engineering consultancy services to Transparent Energy Systems Private Limited (Corporate Debtor) based on two purchase orders for plants in Boyareddypalli and Ganeshpahad. The total consideration was ₹11,00,000/- each, excluding taxes. The services were provided to the satisfaction of the Corporate Debtor, and final reports were sent via email on 22.09.2015 and 08.08.2015. The Corporate Debtor failed to release payments despite a 30-day credit period. The Operational Creditor issued a demand notice on 17.10.2017 for ₹23,65,421/-, leading to a settlement agreement on 30.10.2017. Defaults occurred again, leaving a balance of ₹15,31,752/-. A fresh demand notice was issued on 22.06.2018 for
…Corporate Debtor…
Final report against…