Laxmidhar Mohanty, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Gammon India Limited, the Corporate Debtor, for an unresolved Operational Debt of Rs. 3,86,32,286/- as of 31.08.2019. The Corporate Debtor allegedly defaulted on payments for work orders issued to the Operational Creditor for projects in Odisha. The Operational Creditor claimed to have issued a demand notice, but the Corporate Debtor neither made the payment nor replied to the notice.
Laxmidhar Mohanty, the Operational Creditor, claimed that Gammon India Limited, the Corporate Debtor, owed Rs. 3,86,32,286/- as of 31.08.2019 for services rendered under certain work orders. The work orders pertained to Project No. 8616 JSL Civil Works of HSM and SMS at Duburi, Odisha and Job Code No. 8812 VISA Intake well project, Jajpur, Odisha. The Operational Creditor alleged that despite providing services and raising invoices, the Corporate Debtor defaulted on payments. The Operational Creditor issued a demand notice on 31.08.2019, which the Corporate Debtor received on 03.09.2019, but did not respond to. The Corporate Debtor argued that the petition was time-barred, as the Operational Creditor did not specify the date of default in the demand notice and the
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Laxmidhar Mohanty, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Gammon India Limited, the Corporate Debtor, for an unresolved Operational Debt of Rs. 3,86,32,286/- as of 31.08.2019. The Corporate Debtor allegedly defaulted on payments for work orders issued to the Operational Creditor for projects in Odisha. The Operational Creditor claimed to have issued a demand notice, but the Corporate Debtor neither made the payment nor replied to the notice.
Laxmidhar Mohanty, the Operational Creditor, claimed that Gammon India Limited, the Corporate Debtor, owed Rs. 3,86,32,286/- as of 31.08.2019 for services rendered under certain work orders. The work orders pertained to Project No. 8616 JSL Civil Works of HSM and SMS at Duburi, Odisha and Job Code No. 8812 VISA Intake well project, Jajpur, Odisha. The Operational Creditor alleged that despite providing services and raising invoices, the Corporate Debtor defaulted on payments. The Operational Creditor issued a demand notice on 31.08.2019, which the Corporate Debtor received on 03.09.2019, but did not respond to. The Corporate Debtor argued that the petition was time-barred, as the Operational Creditor did not specify the date of default in the demand notice and the
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Corporate Debtor made a…