M/s A.ES Engineers Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Kiran Udyog Private Limited, the Corporate Debtor, for a default of Rs. 3,53,49,071.9/-. The debt comprised a principal amount of Rs. 2,81,49,908/- and interest of Rs. 71,99,163.9/- as of July 20, 2022. The Operational Creditor claimed the debt was due under 227 invoices for the supply of cast iron products, governed by a Master Service Agreement dated March 28, 2019, and a Facility Agreement dated August 7, 2020. The Corporate Debtor contested the application, citing a pre-existing dispute pending before the Delhi High Court in Arbitration Petition No. 26 of 2022, and arbitration proceedings before the Micro &
…M/s A.ES Engineers Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Kiran Udyog Private Limited (Corporate Debtor) for a default of Rs. 3,53,49,071.9/-, comprising a principal amount of Rs. 2,81,49,908/- and interest of Rs. 71,99,163.9/- as of July 20, 2022. The debt arose from 227 invoices for the supply of cast iron products. The arrangement was governed by a Master Service Agreement dated March 28, 2019, and a Facility Agreement dated August 7, 2020. The Corporate Debtor argued that the application was frivolous due to a pre-existing dispute pending before the Delhi High Court in Arbitration Petition No. 26 of 2022, titled "M/s A.ES Engineers Private Limited v. M/s Ugro Capital
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M/s A.ES Engineers Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Kiran Udyog Private Limited, the Corporate Debtor, for a default of Rs. 3,53,49,071.9/-. The debt comprised a principal amount of Rs. 2,81,49,908/- and interest of Rs. 71,99,163.9/- as of July 20, 2022. The Operational Creditor claimed the debt was due under 227 invoices for the supply of cast iron products, governed by a Master Service Agreement dated March 28, 2019, and a Facility Agreement dated August 7, 2020. The Corporate Debtor contested the application, citing a pre-existing dispute pending before the Delhi High Court in Arbitration Petition No. 26 of 2022, and arbitration proceedings before the Micro &
…M/s A.ES Engineers Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Kiran Udyog Private Limited (Corporate Debtor) for a default of Rs. 3,53,49,071.9/-, comprising a principal amount of Rs. 2,81,49,908/- and interest of Rs. 71,99,163.9/- as of July 20, 2022. The debt arose from 227 invoices for the supply of cast iron products. The arrangement was governed by a Master Service Agreement dated March 28, 2019, and a Facility Agreement dated August 7, 2020. The Corporate Debtor argued that the application was frivolous due to a pre-existing dispute pending before the Delhi High Court in Arbitration Petition No. 26 of 2022, titled "M/s A.ES Engineers Private Limited v. M/s Ugro Capital
…Master Service…
Facility Agreement…