Devi Constructions Co. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against KMC Constructions Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP) for non-payment of debt amounting to Rs. 6,23,75,441. The applicant claimed that the respondent issued work orders for completion of certain works on the Gurgaon-Kotputli-Jaipur section of NH-8 and failed to make payments. The respondent denied any pending dues and raised issues of limitation and the existence of a pre-existing dispute.
Devi Constructions Co. (Applicant/Operational Creditor) filed a petition against KMC Constructions Limited (Respondent/Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the respondent owed Rs. 6,23,75,441, including an invoice value of Rs. 2,86,16,396 and interest of Rs. 2,77,94,377 at 18% per annum. The debt arose from work orders issued by the respondent for completion of works on the Gurgaon-Kotputli-Jaipur section of NH-8. The applicant provided work orders, interim payment certificates, and ledger accounts as evidence. The respondent denied any pending dues, arguing that payments had been made and the petition was time-barred. The respondent also
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The Insolven…
KMC/15-16/WO/107 dated…
Devi Constructions Co. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against KMC Constructions Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP) for non-payment of debt amounting to Rs. 6,23,75,441. The applicant claimed that the respondent issued work orders for completion of certain works on the Gurgaon-Kotputli-Jaipur section of NH-8 and failed to make payments. The respondent denied any pending dues and raised issues of limitation and the existence of a pre-existing dispute.
Devi Constructions Co. (Applicant/Operational Creditor) filed a petition against KMC Constructions Limited (Respondent/Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the respondent owed Rs. 6,23,75,441, including an invoice value of Rs. 2,86,16,396 and interest of Rs. 2,77,94,377 at 18% per annum. The debt arose from work orders issued by the respondent for completion of works on the Gurgaon-Kotputli-Jaipur section of NH-8. The applicant provided work orders, interim payment certificates, and ledger accounts as evidence. The respondent denied any pending dues, arguing that payments had been made and the petition was time-barred. The respondent also
…The Insolven…
KMC/15-16/WO/107 dated…