M/s. Mytrah Energy (India) Private Limited, an assignee and operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Naolin Infrastructure Private Limited, the corporate debtor, for defaulting on a payment of Rs. 2,65,63,554/-. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP). The corporate debtor was assigned civil activities related to wind-operated electricity generators. The operational creditor had paid an advance of Rs. 2,34,08,250/- to the corporate debtor, but the corporate debtor failed to complete the work. A cheque issued by the corporate debtor was dishonored. The corporate debtor contended that the operational creditor did not hand over the physical
…M/s. Mytrah Energy (India) Private Limited, the operational creditor, filed a petition against M/s. Naolin Infrastructure Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 2,65,63,554/-. Mytrah Energy (India) Private Limited is the assignee of debt originally owed to Mytrah Vayu (Som) Private Limited. The corporate debtor was assigned civil activities related to wind-operated electricity generators at 23 locations in Jaisalmer District. Mytrah Vayu (Som) Private Limited placed two purchase orders with the operational creditor for Rs. 2,84,97,000/- and Rs. 27,14,000/-, respectively. 75% of the value was paid in advance, amounting to
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Original project…
Mytrah Vayu (Som) Private Limited paid Rs.…
M/s. Mytrah Energy (India) Private Limited, an assignee and operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Naolin Infrastructure Private Limited, the corporate debtor, for defaulting on a payment of Rs. 2,65,63,554/-. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP). The corporate debtor was assigned civil activities related to wind-operated electricity generators. The operational creditor had paid an advance of Rs. 2,34,08,250/- to the corporate debtor, but the corporate debtor failed to complete the work. A cheque issued by the corporate debtor was dishonored. The corporate debtor contended that the operational creditor did not hand over the physical
…M/s. Mytrah Energy (India) Private Limited, the operational creditor, filed a petition against M/s. Naolin Infrastructure Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 2,65,63,554/-. Mytrah Energy (India) Private Limited is the assignee of debt originally owed to Mytrah Vayu (Som) Private Limited. The corporate debtor was assigned civil activities related to wind-operated electricity generators at 23 locations in Jaisalmer District. Mytrah Vayu (Som) Private Limited placed two purchase orders with the operational creditor for Rs. 2,84,97,000/- and Rs. 27,14,000/-, respectively. 75% of the value was paid in advance, amounting to
…Original project…
Mytrah Vayu (Som) Private Limited paid Rs.…