Godrej Projects Development Ltd. (Applicant) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 against Mr. Kailash T. Shah, the Resolution Professional (RP) of Jaatvedas Construction Co. Pvt. Ltd. (Corporate Debtor). The application challenges the rejection of the Applicant's claim by the RP and seeks directions from the Adjudicating Authority to admit the claim and modify the list of creditors. The Applicant and Corporate Debtor entered into a contract agreement for civil shell and core works. Disputes arose due to the Corporate Debtor's failure to complete the works within the agreed timeframe, leading to the Applicant levying debits on the Corporate Debtor for non-performance, material supply, and liquidated damages. The Corporate
…Godrej Projects Development Ltd. (Applicant) and Jaatvedas Construction Co. Pvt. Ltd. (Corporate Debtor) entered into a contract agreement for civil shell and core works at a project named "Godrej RKS, Chembur". The Applicant floated a tender on July 20, 2020, and the Corporate Debtor was selected as the successful bidder. The contract agreement was dated November 9, 2020, with a contract period of 17.9 months, requiring completion by May 9, 2022. The Corporate Debtor failed to complete the work within the agreed timeframe. The Applicant issued 15 RA bills, and payments were made accordingly. Due to the Corporate Debtor's failure, the Applicant levied debits on the Corporate Debtor for non-performance, material supply, and liquidated damages, totaling Rs.
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Applicant floated a…
Applicant and Corporate…
Godrej Projects Development Ltd. (Applicant) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 against Mr. Kailash T. Shah, the Resolution Professional (RP) of Jaatvedas Construction Co. Pvt. Ltd. (Corporate Debtor). The application challenges the rejection of the Applicant's claim by the RP and seeks directions from the Adjudicating Authority to admit the claim and modify the list of creditors. The Applicant and Corporate Debtor entered into a contract agreement for civil shell and core works. Disputes arose due to the Corporate Debtor's failure to complete the works within the agreed timeframe, leading to the Applicant levying debits on the Corporate Debtor for non-performance, material supply, and liquidated damages. The Corporate
…Godrej Projects Development Ltd. (Applicant) and Jaatvedas Construction Co. Pvt. Ltd. (Corporate Debtor) entered into a contract agreement for civil shell and core works at a project named "Godrej RKS, Chembur". The Applicant floated a tender on July 20, 2020, and the Corporate Debtor was selected as the successful bidder. The contract agreement was dated November 9, 2020, with a contract period of 17.9 months, requiring completion by May 9, 2022. The Corporate Debtor failed to complete the work within the agreed timeframe. The Applicant issued 15 RA bills, and payments were made accordingly. Due to the Corporate Debtor's failure, the Applicant levied debits on the Corporate Debtor for non-performance, material supply, and liquidated damages, totaling Rs.
…Applicant floated a…
Applicant and Corporate…