The case involves an application filed by S.V.R. Nirman Products Inc (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Lahari Infra Projects India (P) Ltd (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 15,89,255, comprising Rs. 11,55,822 towards principal and Rs. 4,33,433 towards interest, arising from unpaid invoices for the manufacturing of cement blocks. The Corporate Debtor argued against the claim, citing discrepancies in invoice certification and the absence of an agreement for interest payment. The Operational Creditor contended that the Corporate Debtor failed to pay the amount within the stipulated period as per the terms
…S.V.R. Nirman Products Inc (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Lahari Infra Projects India (P) Ltd (Corporate Debtor) on 24.12.2019. The claim was for Rs. 15,89,255, including Rs. 11,55,822 towards principal and Rs. 4,33,433 towards interest, for manufacturing cement blocks. The Operational Creditor issued a quotation on 09.02.2017, and the Corporate Debtor placed a work order on the same date. The Corporate Debtor failed to pay the invoices, leading the Operational Creditor to issue a demand notice on 13.11.2019. The Corporate Debtor neither replied to the demand notice nor paid the amount. The Corporate Debtor argued that the invoices were not certified by their Engineer In-charge and
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Operational Creditor issued quotation and…
Date of default as…
The case involves an application filed by S.V.R. Nirman Products Inc (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Lahari Infra Projects India (P) Ltd (Corporate Debtor) for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs. 15,89,255, comprising Rs. 11,55,822 towards principal and Rs. 4,33,433 towards interest, arising from unpaid invoices for the manufacturing of cement blocks. The Corporate Debtor argued against the claim, citing discrepancies in invoice certification and the absence of an agreement for interest payment. The Operational Creditor contended that the Corporate Debtor failed to pay the amount within the stipulated period as per the terms
…S.V.R. Nirman Products Inc (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, against Lahari Infra Projects India (P) Ltd (Corporate Debtor) on 24.12.2019. The claim was for Rs. 15,89,255, including Rs. 11,55,822 towards principal and Rs. 4,33,433 towards interest, for manufacturing cement blocks. The Operational Creditor issued a quotation on 09.02.2017, and the Corporate Debtor placed a work order on the same date. The Corporate Debtor failed to pay the invoices, leading the Operational Creditor to issue a demand notice on 13.11.2019. The Corporate Debtor neither replied to the demand notice nor paid the amount. The Corporate Debtor argued that the invoices were not certified by their Engineer In-charge and
…Operational Creditor issued quotation and…
Date of default as…