M/s Varshit Electricals Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Adarsh Buildestate Limited, the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for internal electrification work. The petition was filed due to an unpaid operational debt of Rs. 1,02,54,021/-. The Adjudicating Authority noted that the Corporate Debtor failed to make the payment mentioned in the statutory notice.
M/s Varshit Electricals Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Adarsh Buildestate Limited, the Corporate Debtor. The Operational Creditor provided internal electrification work to the Corporate Debtor, raising invoices that were duly received and acknowledged. An agreement was executed between the parties on 15.04.2013, and work orders were issued, including one dated 20.04.2016. The amount claimed to be in default is Rs. 1,02,54,021/-, with the default occurring on 23.05.2019. A demand notice dated 28.08.2021 was issued to the Corporate Debtor via email. The Corporate Debtor failed to make the payment mentioned in the
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Agreement executed…
Work order for…
M/s Varshit Electricals Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Adarsh Buildestate Limited, the Corporate Debtor. The Operational Creditor claims that the Corporate Debtor defaulted on payments for internal electrification work. The petition was filed due to an unpaid operational debt of Rs. 1,02,54,021/-. The Adjudicating Authority noted that the Corporate Debtor failed to make the payment mentioned in the statutory notice.
M/s Varshit Electricals Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Adarsh Buildestate Limited, the Corporate Debtor. The Operational Creditor provided internal electrification work to the Corporate Debtor, raising invoices that were duly received and acknowledged. An agreement was executed between the parties on 15.04.2013, and work orders were issued, including one dated 20.04.2016. The amount claimed to be in default is Rs. 1,02,54,021/-, with the default occurring on 23.05.2019. A demand notice dated 28.08.2021 was issued to the Corporate Debtor via email. The Corporate Debtor failed to make the payment mentioned in the
…Agreement executed…
Work order for…