Steel Scaff (India) Private Limited, the applicant/operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Dilip Buildcon Limited, the respondent/corporate debtor. The applicant claimed a default of Rs.2,62,32,195/-, including a principal amount of Rs.1,49,97,323/- and interest of Rs.1,12,34,872/-. The applicant contended that the respondent approached them in 2017 for the supply of scaffolding equipment for various projects and issued purchase orders in early 2018. The applicant supplied the equipment and raised invoices, against which the respondent initially made timely payments. However, payments for ten invoices remained outstanding. The
…Steel Scaff (India) Private Limited (Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dilip Buildcon Limited (Respondent). The Applicant claimed a default of Rs. 2,62,32,195/-, including principal and interest. The Applicant supplied scaffolding equipment to the Respondent for various projects based on purchase orders issued in 2018. The Respondent initially made timely payments but failed to pay for ten invoices. The Applicant sent a demand notice on 05.03.2020, which the Respondent denied, citing sub-standard material quality. The Respondent claimed that internal vigilance in February 2018 revealed discrepancies in the supplied materials. The Respondent also
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Dilip Buildcon approached Steel Scaff for the…
Dilip Buildcon issued purchase orders to…
Steel Scaff (India) Private Limited, the applicant/operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Dilip Buildcon Limited, the respondent/corporate debtor. The applicant claimed a default of Rs.2,62,32,195/-, including a principal amount of Rs.1,49,97,323/- and interest of Rs.1,12,34,872/-. The applicant contended that the respondent approached them in 2017 for the supply of scaffolding equipment for various projects and issued purchase orders in early 2018. The applicant supplied the equipment and raised invoices, against which the respondent initially made timely payments. However, payments for ten invoices remained outstanding. The
…Steel Scaff (India) Private Limited (Applicant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dilip Buildcon Limited (Respondent). The Applicant claimed a default of Rs. 2,62,32,195/-, including principal and interest. The Applicant supplied scaffolding equipment to the Respondent for various projects based on purchase orders issued in 2018. The Respondent initially made timely payments but failed to pay for ten invoices. The Applicant sent a demand notice on 05.03.2020, which the Respondent denied, citing sub-standard material quality. The Respondent claimed that internal vigilance in February 2018 revealed discrepancies in the supplied materials. The Respondent also
…Dilip Buildcon approached Steel Scaff for the…
Dilip Buildcon issued purchase orders to…