Valiance Engineers Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Atmastco Limited, claiming an operational debt of Rs. 1,82,08,965/-. The date of default was stated as 22.12.2023.
Valiance Engineers Private Limited (Operational Creditor) filed an application to initiate CIRP against Atmastco Limited (Corporate Debtor) under Section 9 of the IBC.
The Operational Creditor claimed an operational debt of Rs. 1,82,08,965/- with a date of default of 22.12.2023.
The Corporate Debtor was engaged by Tata Steel Ltd. for the execution of EPC work.
The Operational Creditor was engaged by the Corporate Debtor as a sub-contractor for the said EPC work.
The Corporate Debtor terminated the sub-contractor agreement with the Operational Creditor on 23.11.2023.
The Operational Creditor raised an invoice for Rs. 4,76,60,469/- after the termination of the contract.
The Corporate Debtor acknowledged the invoice but sought time to reconcile accounts.
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The Corporate Debtor terminated the…
The Operational Creditor raised an invoice for…
Valiance Engineers Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Atmastco Limited, claiming an operational debt of Rs. 1,82,08,965/-. The date of default was stated as 22.12.2023.
Valiance Engineers Private Limited (Operational Creditor) filed an application to initiate CIRP against Atmastco Limited (Corporate Debtor) under Section 9 of the IBC.
The Operational Creditor claimed an operational debt of Rs. 1,82,08,965/- with a date of default of 22.12.2023.
The Corporate Debtor was engaged by Tata Steel Ltd. for the execution of EPC work.
The Operational Creditor was engaged by the Corporate Debtor as a sub-contractor for the said EPC work.
The Corporate Debtor terminated the sub-contractor agreement with the Operational Creditor on 23.11.2023.
The Operational Creditor raised an invoice for Rs. 4,76,60,469/- after the termination of the contract.
The Corporate Debtor acknowledged the invoice but sought time to reconcile accounts.
…The Corporate Debtor terminated the…
The Operational Creditor raised an invoice for…