The case involves an application filed by Shekhar Sarawagi, the sole proprietor of M/s Ado Conmat India, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ghanaram Infraengineers Pvt. Ltd. The applicant claimed non-payment of an operational debt amounting to Rs. 5,92,95,099. The Corporate Debtor refuted the claim, alleging that there was a pre-existing dispute regarding the quality and completion of work, and also claimed that the application was barred by limitation.
Shekhar Sarawagi, operating as M/s Ado Conmat India, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ghanaram Infraengineers Pvt. Ltd. for non-payment of an operational debt of Rs. 5,92,95,099. The application was based on two contract agreements dated 08.12.2011 and 16.12.2011 for the supply and erection of gate hoists as a sub-contract under the Construction of Ramganga Barrage. The petitioner claimed to have supplied equipment and raised invoices, but the corporate debtor delayed payments. The corporate debtor admitted to a total liability on 11.07.2017. However, the corporate debtor denied liability on 11.09.2018, leading to the petitioner issuing a legal
…Sign in to view the parties.
Petitioner and Corporate Debtor entered into…
Ghanaram Infrae…
The case involves an application filed by Shekhar Sarawagi, the sole proprietor of M/s Ado Conmat India, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ghanaram Infraengineers Pvt. Ltd. The applicant claimed non-payment of an operational debt amounting to Rs. 5,92,95,099. The Corporate Debtor refuted the claim, alleging that there was a pre-existing dispute regarding the quality and completion of work, and also claimed that the application was barred by limitation.
Shekhar Sarawagi, operating as M/s Ado Conmat India, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ghanaram Infraengineers Pvt. Ltd. for non-payment of an operational debt of Rs. 5,92,95,099. The application was based on two contract agreements dated 08.12.2011 and 16.12.2011 for the supply and erection of gate hoists as a sub-contract under the Construction of Ramganga Barrage. The petitioner claimed to have supplied equipment and raised invoices, but the corporate debtor delayed payments. The corporate debtor admitted to a total liability on 11.07.2017. However, the corporate debtor denied liability on 11.09.2018, leading to the petitioner issuing a legal
…Petitioner and Corporate Debtor entered into…
Ghanaram Infrae…