Tech India Engineers Pvt Ltd, Mumbai, filed an application against Triumph Realty Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating corporate insolvency resolution process due to unpaid operational debt. The Corporate Debtor approached the Operational Creditor for electrical works for Hotel Triumph Resport, Goa. Work orders were issued, and the Operational Creditor executed the works from 24.06.2016 to 29.12.2018. Fourteen invoices were raised, and the Corporate Debtor made part payments. However, a sum of Rs. 46,51,634/- remained due. The Operational Creditor issued a statutory notice dated 11.04.2019, but the Corporate Debtor failed to make the payment.
Tech India Engineers Pvt Ltd, Mumbai (Operational Creditor), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Triumph Realty Pvt. Ltd. (Corporate Debtor) for unpaid operational debt. The Corporate Debtor approached the Operational Creditor for electrical works for Hotel Triumph Resport, Goa. The initial work order was for Rs. 71,00,000/-, later revised to Rs. 33,54,21,862/-. The Operational Creditor executed works from 24.06.2016 to 29.12.2018 and raised fourteen invoices. The Corporate Debtor made part payments, leaving Rs. 46,51,634/- outstanding. The Operational Creditor handed over significant parts of the hotel in April 2018. The Operational Creditor issued a statutory notice on 11.04.2019. The Corporate Debtor claimed a
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Letter of Intent issued for electrical works…
Revised order value at…
Tech India Engineers Pvt Ltd, Mumbai, filed an application against Triumph Realty Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating corporate insolvency resolution process due to unpaid operational debt. The Corporate Debtor approached the Operational Creditor for electrical works for Hotel Triumph Resport, Goa. Work orders were issued, and the Operational Creditor executed the works from 24.06.2016 to 29.12.2018. Fourteen invoices were raised, and the Corporate Debtor made part payments. However, a sum of Rs. 46,51,634/- remained due. The Operational Creditor issued a statutory notice dated 11.04.2019, but the Corporate Debtor failed to make the payment.
Tech India Engineers Pvt Ltd, Mumbai (Operational Creditor), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Triumph Realty Pvt. Ltd. (Corporate Debtor) for unpaid operational debt. The Corporate Debtor approached the Operational Creditor for electrical works for Hotel Triumph Resport, Goa. The initial work order was for Rs. 71,00,000/-, later revised to Rs. 33,54,21,862/-. The Operational Creditor executed works from 24.06.2016 to 29.12.2018 and raised fourteen invoices. The Corporate Debtor made part payments, leaving Rs. 46,51,634/- outstanding. The Operational Creditor handed over significant parts of the hotel in April 2018. The Operational Creditor issued a statutory notice on 11.04.2019. The Corporate Debtor claimed a
…Letter of Intent issued for electrical works…
Revised order value at…