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, to initiate the Corporate Insolvency Resolution Process (CIRP). The applicant claimed a default amount of Rs. 1,25,32,630/-, stating it arose from unpaid dues for civil infrastructure work done for the corporate debtor between October 2017 and November 2019. The corporate debtor denied the claim, citing pre-existing disputes, termination of contract, and non-payment of GST by the applicant.
Jay Infraspace Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Aashir Engineering Pvt Ltd (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The applicant, a MSME registered on 03.06.2019, claimed that the Corporate Debtor, incorporated on 18.10.2007, defaulted on a payment of Rs. 1,25,32,630/-. The applicant stated that it was engaged in civil infrastructure work and was subcontracted by the Corporate Debtor for a 4.5 MLD capacity water supply system for Zydus Cadila. The applicant supplied material and provided services from October 2017 to 15.11.2019. The total value of the work was Rs. 6,80,28,179.57/-, with the last payment made on 24.10.2019, leaving a
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Aashir Enginee…
Operational Creditor…
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, to initiate the Corporate Insolvency Resolution Process (CIRP). The applicant claimed a default amount of Rs. 1,25,32,630/-, stating it arose from unpaid dues for civil infrastructure work done for the corporate debtor between October 2017 and November 2019. The corporate debtor denied the claim, citing pre-existing disputes, termination of contract, and non-payment of GST by the applicant.
Jay Infraspace Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Aashir Engineering Pvt Ltd (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The applicant, a MSME registered on 03.06.2019, claimed that the Corporate Debtor, incorporated on 18.10.2007, defaulted on a payment of Rs. 1,25,32,630/-. The applicant stated that it was engaged in civil infrastructure work and was subcontracted by the Corporate Debtor for a 4.5 MLD capacity water supply system for Zydus Cadila. The applicant supplied material and provided services from October 2017 to 15.11.2019. The total value of the work was Rs. 6,80,28,179.57/-, with the last payment made on 24.10.2019, leaving a
…Aashir Enginee…
Operational Creditor…