G-Tech Construction and Fabricators, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Central Coalfields Limited, the corporate debtor. The application pertains to two work orders issued to G-Tech Construction and Fabricators for work at Site-1 and Site-2. The operational creditor claims that the corporate debtor defaulted on payments for the work done under these work orders.
G-Tech Construction and Fabricators, an MSME partnership firm, was awarded two work orders by Central Coalfields Limited (CCL). The first work order, for Site-1 dated 28.12.2017, involved repair and maintenance work. The second work order, for Site-2 dated 24.01.2018, was for the construction of classrooms. G-Tech completed both jobs, and CCL issued completion certificates. G-Tech claimed CCL unequivocally admitted that the work was completed within the contractual completion date and that the total work-done amount was Rs. 3,28,38,486 for Site-1. CCL also admitted that the total work-done amount for Site-2 was Rs. 1,02,81,442.71. G-Tech alleged that CCL failed to make timely payments despite repeated requests. G-Tech sent a demand notice under Section 8 of the IBC on
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A Work Order for Site-1…
A Work Order for Site-2…
G-Tech Construction and Fabricators, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Central Coalfields Limited, the corporate debtor. The application pertains to two work orders issued to G-Tech Construction and Fabricators for work at Site-1 and Site-2. The operational creditor claims that the corporate debtor defaulted on payments for the work done under these work orders.
G-Tech Construction and Fabricators, an MSME partnership firm, was awarded two work orders by Central Coalfields Limited (CCL). The first work order, for Site-1 dated 28.12.2017, involved repair and maintenance work. The second work order, for Site-2 dated 24.01.2018, was for the construction of classrooms. G-Tech completed both jobs, and CCL issued completion certificates. G-Tech claimed CCL unequivocally admitted that the work was completed within the contractual completion date and that the total work-done amount was Rs. 3,28,38,486 for Site-1. CCL also admitted that the total work-done amount for Site-2 was Rs. 1,02,81,442.71. G-Tech alleged that CCL failed to make timely payments despite repeated requests. G-Tech sent a demand notice under Section 8 of the IBC on
…A Work Order for Site-1…
A Work Order for Site-2…