Jain Irrigation Systems Limited, the operational creditor, filed an application against EID Parry (India) Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a debt of Rs. 27,73,53,498/- including interest payable up to 31.03.2020. The debt allegedly arose from non-payment of invoices for the supply, installation, and maintenance of drip irrigation systems for cane growers identified and monitored by the Corporate Debtor. The Corporate Debtor argued that there was a pre-existing dispute, the claim was barred by limitation, and the application was mala fide.
Jain Irrigation Systems Limited (JISL) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against EID Parry (India) Limited, claiming a debt of Rs. 27,73,53,498/-. JISL and EID Parry had an agreement dated 21.09.2010 for JISL to supply, install, and maintain drip irrigation systems for sugarcane farmers identified by EID Parry. The agreement was for the period between August 2010 and October 2011. EID Parry was to identify farmers, JISL was to conduct soil and water analysis, and design the irrigation systems. The cost was based on a price list annexed to the agreement. A work order would be issued, and JISL was to commence work within 7 days and complete installation within 15 days. JISL was to demonstrate satisfactory operation of the
…Sign in to view the parties.
Agreement entered between Jain Irrigation…
Corporate Debtor…
Jain Irrigation Systems Limited, the operational creditor, filed an application against EID Parry (India) Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming a debt of Rs. 27,73,53,498/- including interest payable up to 31.03.2020. The debt allegedly arose from non-payment of invoices for the supply, installation, and maintenance of drip irrigation systems for cane growers identified and monitored by the Corporate Debtor. The Corporate Debtor argued that there was a pre-existing dispute, the claim was barred by limitation, and the application was mala fide.
Jain Irrigation Systems Limited (JISL) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against EID Parry (India) Limited, claiming a debt of Rs. 27,73,53,498/-. JISL and EID Parry had an agreement dated 21.09.2010 for JISL to supply, install, and maintain drip irrigation systems for sugarcane farmers identified by EID Parry. The agreement was for the period between August 2010 and October 2011. EID Parry was to identify farmers, JISL was to conduct soil and water analysis, and design the irrigation systems. The cost was based on a price list annexed to the agreement. A work order would be issued, and JISL was to commence work within 7 days and complete installation within 15 days. JISL was to demonstrate satisfactory operation of the
…Agreement entered between Jain Irrigation…
Corporate Debtor…