Sri Bajrang Wind Park Developers filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Inox Wind Infrastructure Services Limited. The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for works related to a 50MW Wind Power Project at Sadala, Gujarat. The operational creditor issued various invoices for products supplied and installation work completed until May 2019, but the corporate debtor allegedly failed to make complete payments, leading to an outstanding amount of Rs. 25,72,70,275/- along with interest. The corporate debtor contested the application, citing pre-existing disputes, defective application, and lack of
…Sri Bajrang Wind Park Developers, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Inox Wind Infrastructure Services Limited, the corporate debtor. The operational creditor claimed that the corporate debtor engaged them for works related to a 50MW Wind Power Project at Sadala, Gujarat. The operational creditor issued various invoices for products supplied and installation work completed until May 2019. The corporate debtor allegedly failed to make complete payments, resulting in an outstanding amount of Rs. 25,72,70,275/- along with interest at 24% per annum. The operational creditor issued a demand notice dated 02.07.2019, which the corporate
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Operational creditor…
Operational creditor…
Sri Bajrang Wind Park Developers filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Inox Wind Infrastructure Services Limited. The applicant, an operational creditor, claimed that the corporate debtor defaulted on payments for works related to a 50MW Wind Power Project at Sadala, Gujarat. The operational creditor issued various invoices for products supplied and installation work completed until May 2019, but the corporate debtor allegedly failed to make complete payments, leading to an outstanding amount of Rs. 25,72,70,275/- along with interest. The corporate debtor contested the application, citing pre-existing disputes, defective application, and lack of
…Sri Bajrang Wind Park Developers, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Inox Wind Infrastructure Services Limited, the corporate debtor. The operational creditor claimed that the corporate debtor engaged them for works related to a 50MW Wind Power Project at Sadala, Gujarat. The operational creditor issued various invoices for products supplied and installation work completed until May 2019. The corporate debtor allegedly failed to make complete payments, resulting in an outstanding amount of Rs. 25,72,70,275/- along with interest at 24% per annum. The operational creditor issued a demand notice dated 02.07.2019, which the corporate
…Operational creditor…
Operational creditor…