This case involves an application filed by Nuvoco Vistas Corporation Limited (the Applicant), an operational creditor, against WIG Brothers Construction Private Limited (the Respondent), a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application pertains to unpaid dues for the supply of RMX for project sites. The Applicant and the Respondent had an agreement for the supply of RMX between March 2013 and July 2016, during which the Respondent issued purchase orders. The Applicant demanded payments between August 8, 2016, and December 3, 2016, but received no payments. Several cheques issued by the Respondent were returned unpaid. The Applicant issued a demand notice on March 20, 2017, under Section 8 of the Code, but no payment was
…Nuvoco Vistas Corporation Limited (Applicant) and WIG Brothers Construction Private Limited (Respondent) entered into an agreement for the supply of RMX for project sites between March 2013 and July 2016. The Respondent issued purchase orders during this period. The Applicant demanded payments between August 8, 2016, and December 3, 2016, but received no payments. Several cheques issued by the Respondent were returned unpaid. The Applicant issued a demand notice on March 20, 2017, under Section 8 of the Insolvency and Bankruptcy Code, 2016 (IBC), but no payment was received. A meeting was held on April 5, 2017, and a reply dated April 20, 2017, was received, in which the Respondent admitted its liability. The Applicant filed an application claiming a default amount of
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This case involves an application filed by Nuvoco Vistas Corporation Limited (the Applicant), an operational creditor, against WIG Brothers Construction Private Limited (the Respondent), a corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application pertains to unpaid dues for the supply of RMX for project sites. The Applicant and the Respondent had an agreement for the supply of RMX between March 2013 and July 2016, during which the Respondent issued purchase orders. The Applicant demanded payments between August 8, 2016, and December 3, 2016, but received no payments. Several cheques issued by the Respondent were returned unpaid. The Applicant issued a demand notice on March 20, 2017, under Section 8 of the Code, but no payment was
…Nuvoco Vistas Corporation Limited (Applicant) and WIG Brothers Construction Private Limited (Respondent) entered into an agreement for the supply of RMX for project sites between March 2013 and July 2016. The Respondent issued purchase orders during this period. The Applicant demanded payments between August 8, 2016, and December 3, 2016, but received no payments. Several cheques issued by the Respondent were returned unpaid. The Applicant issued a demand notice on March 20, 2017, under Section 8 of the Insolvency and Bankruptcy Code, 2016 (IBC), but no payment was received. A meeting was held on April 5, 2017, and a reply dated April 20, 2017, was received, in which the Respondent admitted its liability. The Applicant filed an application claiming a default amount of
…The Applicant and the Respondent entered into…
The period for the…