Satya Narayan Sharma, proprietor of M/s. India Wood Craft, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. NBCC (India) Limited, alleging a default in payment of Rs. 99,37,989/-. This amount includes a principal of Rs. 69,85,645/- and interest of Rs. 29,52,344/- for delayed payments from 30.06.2017 to 04.11.2019. The applicant, engaged in interior decoration, civil works, and furnishing, was awarded a contract by NBCC for interior works for Software Technology Parks of India (STPI).
M/s. India Wood Craft, represented by proprietor Satya Narayan Sharma, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. NBCC (India) Limited, claiming a default of Rs. 99,37,989/-. This amount includes Rs. 69,85,645/- as principal and Rs. 29,52,344/- as interest for delayed payments. The debt arose from a contract awarded to India Wood Craft by NBCC for interior works at Software Technology Parks of India (STPI) in Gandhinagar. The Letter of Acceptance was dated 12.08.2016. India Wood Craft raised seven running account bills, and NBCC made partial payments. A final bill was prepared on 30.06.2017. The applicant sent reminders for payment between 2017 and 2019, followed by a demand notice on 04.11.2019, which was received by
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Corporate Debtor awarded…
Corporate Debtor…
Satya Narayan Sharma, proprietor of M/s. India Wood Craft, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. NBCC (India) Limited, alleging a default in payment of Rs. 99,37,989/-. This amount includes a principal of Rs. 69,85,645/- and interest of Rs. 29,52,344/- for delayed payments from 30.06.2017 to 04.11.2019. The applicant, engaged in interior decoration, civil works, and furnishing, was awarded a contract by NBCC for interior works for Software Technology Parks of India (STPI).
M/s. India Wood Craft, represented by proprietor Satya Narayan Sharma, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. NBCC (India) Limited, claiming a default of Rs. 99,37,989/-. This amount includes Rs. 69,85,645/- as principal and Rs. 29,52,344/- as interest for delayed payments. The debt arose from a contract awarded to India Wood Craft by NBCC for interior works at Software Technology Parks of India (STPI) in Gandhinagar. The Letter of Acceptance was dated 12.08.2016. India Wood Craft raised seven running account bills, and NBCC made partial payments. A final bill was prepared on 30.06.2017. The applicant sent reminders for payment between 2017 and 2019, followed by a demand notice on 04.11.2019, which was received by
…Corporate Debtor awarded…
Corporate Debtor…