The case involves an application filed by Mr. Shakir, Proprietor of Zaara Enterprises (Operational Creditor/Applicant), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Fruitful Buildcon Private Limited (Corporate Debtor/Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational debt claimed by the applicant amounts to Rs. 1,04,46,084/-. The Corporate Debtor is a private company incorporated under the Companies Act, 1956 in 2001. The Corporate Debtor had issued a work order to the Applicant for work to be executed at Hilton Hotel, Jaipur.
Mr. Shakir, proprietor of Zaara Enterprises, filed an application to initiate CIRP against M/s Fruitful Buildcon Private Limited, claiming an operational debt of Rs. 1,04,46,084/-. The debt arose from a work order issued by the Corporate Debtor for work at Hilton Hotel, Jaipur. The Applicant issued a demand notice under Section 8 of the IBC on 02.07.2022. The Corporate Debtor argued that there was a pre-existing dispute regarding the debt. The Corporate Debtor had issued a work order on 01.08.2021. The work was completed in March 2022. The Applicant sent emails requesting payment, and the Respondent replied, disputing the amount. The Applicant stated the total debt due was Rs. 1,64,51,948/-, while the Respondent claimed the value of the work order was Rs. 70 lakhs,
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The Corporate Debtor issued a work order to…
The work was c…
The case involves an application filed by Mr. Shakir, Proprietor of Zaara Enterprises (Operational Creditor/Applicant), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Fruitful Buildcon Private Limited (Corporate Debtor/Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational debt claimed by the applicant amounts to Rs. 1,04,46,084/-. The Corporate Debtor is a private company incorporated under the Companies Act, 1956 in 2001. The Corporate Debtor had issued a work order to the Applicant for work to be executed at Hilton Hotel, Jaipur.
Mr. Shakir, proprietor of Zaara Enterprises, filed an application to initiate CIRP against M/s Fruitful Buildcon Private Limited, claiming an operational debt of Rs. 1,04,46,084/-. The debt arose from a work order issued by the Corporate Debtor for work at Hilton Hotel, Jaipur. The Applicant issued a demand notice under Section 8 of the IBC on 02.07.2022. The Corporate Debtor argued that there was a pre-existing dispute regarding the debt. The Corporate Debtor had issued a work order on 01.08.2021. The work was completed in March 2022. The Applicant sent emails requesting payment, and the Respondent replied, disputing the amount. The Applicant stated the total debt due was Rs. 1,64,51,948/-, while the Respondent claimed the value of the work order was Rs. 70 lakhs,
…The Corporate Debtor issued a work order to…
The work was c…