The case involves an application filed by M/s. Energy Efficiency Services Limited (EESL), the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. A-One Realtors Private Limited, the Corporate Debtor. EESL claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,77,69,978/-, exclusive of penal interest. The debt arose from Letters of Award issued to the Corporate Debtor for distribution, storage, and inventory management of LED bulbs under the Domestic Efficient Lighting Program (DELP). The Corporate Debtor was required to deposit the monies collected from the distribution of LED bulbs into EESL's bank account. EESL contended that the Corporate
…M/s. Energy Efficiency Services Limited (EESL), an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. A-One Realtors Private Limited, a Corporate Debtor. EESL claimed a default of Rs. 6,77,69,978/- excluding interest. The debt arose from Letters of Award issued to the Corporate Debtor for distribution of LED bulbs under the Domestic Efficient Lighting Program (DELP). The Corporate Debtor was responsible for depositing collected funds into EESL's account. EESL alleged non-payment despite reminders. The Corporate Debtor argued that there was a pre-existing dispute, evidenced by ongoing arbitration and communications showing disagreements over the
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Operational Creditor…
The Operational…
The case involves an application filed by M/s. Energy Efficiency Services Limited (EESL), the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. A-One Realtors Private Limited, the Corporate Debtor. EESL claimed that the Corporate Debtor defaulted on payments amounting to Rs. 6,77,69,978/-, exclusive of penal interest. The debt arose from Letters of Award issued to the Corporate Debtor for distribution, storage, and inventory management of LED bulbs under the Domestic Efficient Lighting Program (DELP). The Corporate Debtor was required to deposit the monies collected from the distribution of LED bulbs into EESL's bank account. EESL contended that the Corporate
…M/s. Energy Efficiency Services Limited (EESL), an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. A-One Realtors Private Limited, a Corporate Debtor. EESL claimed a default of Rs. 6,77,69,978/- excluding interest. The debt arose from Letters of Award issued to the Corporate Debtor for distribution of LED bulbs under the Domestic Efficient Lighting Program (DELP). The Corporate Debtor was responsible for depositing collected funds into EESL's account. EESL alleged non-payment despite reminders. The Corporate Debtor argued that there was a pre-existing dispute, evidenced by ongoing arbitration and communications showing disagreements over the
…Operational Creditor…
The Operational…