The case involves a petition filed by Mr. Ajay Kumar Krushna Pradhan, an operational creditor, against Gammon India Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to an alleged default in payment for work done related to the Chennai Metro Rail Project. The corporate debtor refuted the claim, citing issues with the demand notice, lack of supporting documents, and disputes regarding the debt's validity and limitation.
Mr. Ajay Kumar Krushna Pradhan, an individual civil contractor and labour supplier (Operational Creditor), filed a petition against Gammon India Limited (Corporate Debtor), a public limited company engaged in civil engineering, design, and construction. The Operational Creditor claimed a default of INR 15,26,964/- related to invoices for supplying labour for the Chennai Metro Rail Project. The initial default amount claimed was Rs.11,88,299 as of 2015-11-08, with additional interest calculated until 2017-06-07. The Corporate Debtor allegedly retained 5% of the amount towards retention money. The Corporate Debtor issued an undated balance confirmation letter acknowledging a payable amount. The Corporate Debtor made a part payment of INR 81,000/-, leaving a balance of
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The Corporate Debtor's…
The Operational Creditor claimed an amount of…
The case involves a petition filed by Mr. Ajay Kumar Krushna Pradhan, an operational creditor, against Gammon India Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to an alleged default in payment for work done related to the Chennai Metro Rail Project. The corporate debtor refuted the claim, citing issues with the demand notice, lack of supporting documents, and disputes regarding the debt's validity and limitation.
Mr. Ajay Kumar Krushna Pradhan, an individual civil contractor and labour supplier (Operational Creditor), filed a petition against Gammon India Limited (Corporate Debtor), a public limited company engaged in civil engineering, design, and construction. The Operational Creditor claimed a default of INR 15,26,964/- related to invoices for supplying labour for the Chennai Metro Rail Project. The initial default amount claimed was Rs.11,88,299 as of 2015-11-08, with additional interest calculated until 2017-06-07. The Corporate Debtor allegedly retained 5% of the amount towards retention money. The Corporate Debtor issued an undated balance confirmation letter acknowledging a payable amount. The Corporate Debtor made a part payment of INR 81,000/-, leaving a balance of
…The Corporate Debtor's…
The Operational Creditor claimed an amount of…