The case originates from a petition filed by Aeruva Naga Mallikarjuna, an Operational Creditor, against Icoat Projects Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claimed a principal amount of Rs. 1,21,52,012 as of 02.01.2021, along with interest at 24% per annum, was due and payable by the Corporate Debtor. The petition sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
Aeruva Naga Mallikarjuna, an Operational Creditor, filed a petition against Icoat Projects Pvt Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor claimed that a principal amount of Rs. 1,21,52,012 was due as of 02.01.2021, plus interest at 24% per annum. The Operational Creditor is a contractor who executed work for the Corporate Debtor, including providing central and high mast LED lighting, constructing major drains, a modern market, an auditorium, mini auditoriums, and developing a dumping yard and parks in Dornakal Municipality. The Operational Creditor raised invoices for the work. The date of default was claimed to be 20.03.2020, the date of the first invoice. The Operational Creditor convened a meeting on 06.02.2021, to demand
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The case originates from a petition filed by Aeruva Naga Mallikarjuna, an Operational Creditor, against Icoat Projects Pvt Ltd, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditor claimed a principal amount of Rs. 1,21,52,012 as of 02.01.2021, along with interest at 24% per annum, was due and payable by the Corporate Debtor. The petition sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
Aeruva Naga Mallikarjuna, an Operational Creditor, filed a petition against Icoat Projects Pvt Ltd, the Corporate Debtor, under Section 9 of the IBC, 2016. The Operational Creditor claimed that a principal amount of Rs. 1,21,52,012 was due as of 02.01.2021, plus interest at 24% per annum. The Operational Creditor is a contractor who executed work for the Corporate Debtor, including providing central and high mast LED lighting, constructing major drains, a modern market, an auditorium, mini auditoriums, and developing a dumping yard and parks in Dornakal Municipality. The Operational Creditor raised invoices for the work. The date of default was claimed to be 20.03.2020, the date of the first invoice. The Operational Creditor convened a meeting on 06.02.2021, to demand
…Claimed date of…
Principal amount of Rs.…