BPS Building Protection Systems Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Value Designbuild Private Limited, alleging failure to pay an outstanding amount of Rs. 40,85,128/- for waterproofing works. The case was listed for hearing on multiple dates, and eventually, the parties settled the matter.
BPS Building Protection Systems Private Limited (the Petitioner/Operational Creditor) filed C.P (IB) No. 97/BB/2017 under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Value Designbuild Private Limited (the Respondent/Corporate Debtor). The petitioner claimed that the corporate debtor failed to pay an outstanding amount of Rs. 40,85,128/- for waterproofing works executed at "VDB Willow Farm", Nallurahalli, Bangalore. The case was listed for hearing on multiple dates. The learned Counsels for both parties filed a joint memo dated 05.01.2018 settling the issue. The learned Counsel for the Respondent filed a Memo dated 31/10/2018 stating that the Respondent is paying an amount of Rs.75,000 vide DD dated 31.10.2018 and undertakes to make payment
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BPS Building Protection Systems Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Value Designbuild Private Limited, alleging failure to pay an outstanding amount of Rs. 40,85,128/- for waterproofing works. The case was listed for hearing on multiple dates, and eventually, the parties settled the matter.
BPS Building Protection Systems Private Limited (the Petitioner/Operational Creditor) filed C.P (IB) No. 97/BB/2017 under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Value Designbuild Private Limited (the Respondent/Corporate Debtor). The petitioner claimed that the corporate debtor failed to pay an outstanding amount of Rs. 40,85,128/- for waterproofing works executed at "VDB Willow Farm", Nallurahalli, Bangalore. The case was listed for hearing on multiple dates. The learned Counsels for both parties filed a joint memo dated 05.01.2018 settling the issue. The learned Counsel for the Respondent filed a Memo dated 31/10/2018 stating that the Respondent is paying an amount of Rs.75,000 vide DD dated 31.10.2018 and undertakes to make payment
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