The case involves a petition filed by J Rajendra Naidu, an Operational Creditor, against M/s Amma Construction India Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 1,41,31,275/-. The Corporate Debtor had entered into a subcontract agreement with HEC India LLP for installation of fence and other works in the plant of KIA Motors, India, and further subcontracted the said work to the Operational Creditor. The Operational Creditor raised several running account (RA) bills for the work done, but the Corporate Debtor allegedly failed to make full payments.
J Rajendra Naidu, the Operational Creditor, filed a petition against M/s Amma Construction India Private Limited, the Corporate Debtor, under Section 9 of the IBC, claiming a default of Rs. 1,41,31,275/-. The Corporate Debtor had a subcontract agreement with HEC India LLP for work at KIA Motors, which was further subcontracted to the Operational Creditor. The Operational Creditor raised five RA bills between November 2018 and May 2019. The Corporate Debtor made a partial payment of Rs. 15,00,000/- against the first bill. The Corporate Debtor argued that the Operational Creditor further subcontracted the work to Raj Infra and Developers without consent, and that direct payments were made to Raj Infra and Developers by HEC India LLP. The Corporate Debtor also claimed
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The Corporate Debtor…
The case involves a petition filed by J Rajendra Naidu, an Operational Creditor, against M/s Amma Construction India Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 1,41,31,275/-. The Corporate Debtor had entered into a subcontract agreement with HEC India LLP for installation of fence and other works in the plant of KIA Motors, India, and further subcontracted the said work to the Operational Creditor. The Operational Creditor raised several running account (RA) bills for the work done, but the Corporate Debtor allegedly failed to make full payments.
J Rajendra Naidu, the Operational Creditor, filed a petition against M/s Amma Construction India Private Limited, the Corporate Debtor, under Section 9 of the IBC, claiming a default of Rs. 1,41,31,275/-. The Corporate Debtor had a subcontract agreement with HEC India LLP for work at KIA Motors, which was further subcontracted to the Operational Creditor. The Operational Creditor raised five RA bills between November 2018 and May 2019. The Corporate Debtor made a partial payment of Rs. 15,00,000/- against the first bill. The Corporate Debtor argued that the Operational Creditor further subcontracted the work to Raj Infra and Developers without consent, and that direct payments were made to Raj Infra and Developers by HEC India LLP. The Corporate Debtor also claimed
…The Corporate Debtor…
The Corporate Debtor…