M/s Mahi Buildhome Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Kaveri Technobuild Private Limited, the Corporate Debtor, due to an alleged default in payment. The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of INR 7,38,01,266.00. The Corporate Debtor disputed the claim, asserting that there was no amount due and payable and filed an Interlocutory Application (I.A. No. 2588 of 2024) alleging that the Operational Creditor filed the Section 9 Petition maliciously and with fraudulent intent.
M/s Mahi Buildhome Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Kaveri Technobuild Private Limited (Corporate Debtor), seeking to initiate CIRP for an alleged default of INR 7,38,01,266.00. The Operational Creditor claimed to have been engaged as a contractor for construction-related work on the Corporate Debtor's real estate project. The Operational Creditor submitted that they raised various RA Bills/Invoices for the work completed, which were approved by the Corporate Debtor. The Corporate Debtor disputed the claim, asserting that two invoices were not valid and that they had already made excess payments to the Operational Creditor. The Corporate Debtor also filed an Interlocutory
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M/s Mahi Buildhome Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Kaveri Technobuild Private Limited, the Corporate Debtor, due to an alleged default in payment. The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of INR 7,38,01,266.00. The Corporate Debtor disputed the claim, asserting that there was no amount due and payable and filed an Interlocutory Application (I.A. No. 2588 of 2024) alleging that the Operational Creditor filed the Section 9 Petition maliciously and with fraudulent intent.
M/s Mahi Buildhome Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Kaveri Technobuild Private Limited (Corporate Debtor), seeking to initiate CIRP for an alleged default of INR 7,38,01,266.00. The Operational Creditor claimed to have been engaged as a contractor for construction-related work on the Corporate Debtor's real estate project. The Operational Creditor submitted that they raised various RA Bills/Invoices for the work completed, which were approved by the Corporate Debtor. The Corporate Debtor disputed the claim, asserting that two invoices were not valid and that they had already made excess payments to the Operational Creditor. The Corporate Debtor also filed an Interlocutory
…The Insolven…
Work order ex…