Jain Irrigation Systems Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against EID Parry (India) Limited, the corporate debtor, for a default amount of Rs. 27,73,53,498/-. The debt allegedly arose from non-payment of invoices for the supply, installation, and maintenance of drip irrigation systems for sugarcane farmers, coordinated and monitored by the Corporate Debtor. An agreement dated 21st September 2010 was in place between the parties. The Corporate Debtor claimed that all dues under the agreement had been paid and raised issues of limitation, asserting the entire claim was barred. The Corporate Debtor also argued a pre-existing dispute, stating the Applicant had not provided necessary
…Jain Irrigation Systems Limited (JISL) filed an application against EID Parry (India) Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a debt of Rs. 27,73,53,498/-. The debt allegedly arose from unpaid invoices for the supply, installation, and maintenance of drip irrigation systems for sugarcane farmers. An agreement dated 21st September 2010 existed between JISL and EID Parry, where EID Parry was to identify farmers, and JISL was to install drip irrigation systems. Payment terms involved subsidy from the Tamil Nadu Government under the TANHODA scheme and contributions from farmers. EID Parry claimed all amounts were paid under the agreement and raised issues of limitation and pre-existing disputes, citing a lack of documentation and
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Agreement entered between Jain Irrigation…
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Jain Irrigation Systems Limited, the operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against EID Parry (India) Limited, the corporate debtor, for a default amount of Rs. 27,73,53,498/-. The debt allegedly arose from non-payment of invoices for the supply, installation, and maintenance of drip irrigation systems for sugarcane farmers, coordinated and monitored by the Corporate Debtor. An agreement dated 21st September 2010 was in place between the parties. The Corporate Debtor claimed that all dues under the agreement had been paid and raised issues of limitation, asserting the entire claim was barred. The Corporate Debtor also argued a pre-existing dispute, stating the Applicant had not provided necessary
…Jain Irrigation Systems Limited (JISL) filed an application against EID Parry (India) Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a debt of Rs. 27,73,53,498/-. The debt allegedly arose from unpaid invoices for the supply, installation, and maintenance of drip irrigation systems for sugarcane farmers. An agreement dated 21st September 2010 existed between JISL and EID Parry, where EID Parry was to identify farmers, and JISL was to install drip irrigation systems. Payment terms involved subsidy from the Tamil Nadu Government under the TANHODA scheme and contributions from farmers. EID Parry claimed all amounts were paid under the agreement and raised issues of limitation and pre-existing disputes, citing a lack of documentation and
…Agreement entered between Jain Irrigation…
Agreement was for the…