The case involves an application filed by Suzlon Global Services Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Array Land Developers Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
Suzlon Global Services Limited, the Operational Creditor, filed an application under Section 9 of the IBC against Array Land Developers Private Limited, the Corporate Debtor.
The Operational Creditor claimed an outstanding amount of Rs. 9,32,17,794.35, including principal and interest.
The debt arose from operation and maintenance services provided by the Operational Creditor to the Corporate Debtor's wind turbine generators.
The Corporate Debtor argued that there was a pre-existing dispute based on a police complaint filed against the Operational Creditor.
The Tribunal noted that the police complaint had been closed and a closure report had been filed.
The Corporate Debtor had acknowledged the debt in a Minutes of Meeting (MoM) dated 18.08.2021.
…Sign in to view the parties.
Minutes of Meeting (MoM) dated 18.08.2021, in…
The Operational Creditor issued a Section 8…
The case involves an application filed by Suzlon Global Services Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Array Land Developers Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
Suzlon Global Services Limited, the Operational Creditor, filed an application under Section 9 of the IBC against Array Land Developers Private Limited, the Corporate Debtor.
The Operational Creditor claimed an outstanding amount of Rs. 9,32,17,794.35, including principal and interest.
The debt arose from operation and maintenance services provided by the Operational Creditor to the Corporate Debtor's wind turbine generators.
The Corporate Debtor argued that there was a pre-existing dispute based on a police complaint filed against the Operational Creditor.
The Tribunal noted that the police complaint had been closed and a closure report had been filed.
The Corporate Debtor had acknowledged the debt in a Minutes of Meeting (MoM) dated 18.08.2021.
…Minutes of Meeting (MoM) dated 18.08.2021, in…
The Operational Creditor issued a Section 8…