Jay Infraspace Pvt Ltd, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Aashir Engineering Pvt Ltd, the corporate debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The applicant, a MSME, claimed a default amount of Rs. 1,25,32,630/-. The corporate debtor denied the claim, citing pre-existing disputes and termination of services. The applicant contended that they were engaged in construction and civil infrastructure work, including sub-contracts for the corporate debtor, and supplied materials and services between October 2017 and November 2019.
Jay Infraspace Pvt Ltd (Operational Creditor) filed an application under Section 9 of the IBC against Aashir Engineering Pvt Ltd (Corporate Debtor) to initiate CIRP. The Operational Creditor claimed a default amount of Rs. 1,25,32,630/-. The Operational Creditor is a MSME. The Corporate Debtor was incorporated on 18.10.2007. The Operational Creditor was engaged in construction and civil infrastructure work and had supplied materials and services to the Corporate Debtor between October 2017 and November 2019. The Corporate Debtor was allotted work contract in connection with 4.5 MLD Capacity water supply system for Zydus Cadila. The Corporate Debtor made payments on adhoc basis and last such payment was made on 24.10.2019. The Corporate Debtor confirmed the dues in the
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Aashir Enginee…
Operational Creditor…
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Jay Infraspace Pvt Ltd, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Aashir Engineering Pvt Ltd, the corporate debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The applicant, a MSME, claimed a default amount of Rs. 1,25,32,630/-. The corporate debtor denied the claim, citing pre-existing disputes and termination of services. The applicant contended that they were engaged in construction and civil infrastructure work, including sub-contracts for the corporate debtor, and supplied materials and services between October 2017 and November 2019.
Jay Infraspace Pvt Ltd (Operational Creditor) filed an application under Section 9 of the IBC against Aashir Engineering Pvt Ltd (Corporate Debtor) to initiate CIRP. The Operational Creditor claimed a default amount of Rs. 1,25,32,630/-. The Operational Creditor is a MSME. The Corporate Debtor was incorporated on 18.10.2007. The Operational Creditor was engaged in construction and civil infrastructure work and had supplied materials and services to the Corporate Debtor between October 2017 and November 2019. The Corporate Debtor was allotted work contract in connection with 4.5 MLD Capacity water supply system for Zydus Cadila. The Corporate Debtor made payments on adhoc basis and last such payment was made on 24.10.2019. The Corporate Debtor confirmed the dues in the
…Aashir Enginee…
Operational Creditor…
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