M/s. Akash Electrotek Engineers Private Limited, the Operational Creditor, filed an application to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. NCC Limited (Respondent-1) and M/s. Airport Authority of India (AAI) (Respondent-2) for alleged default in discharging a debt. The Petitioner was contracted by Respondent-1 for electrical work at Lucknow Airport, which was commissioned by Respondent-2. A tripartite agreement was executed between the parties. The Petitioner claimed to have completed 95% of the work, but the Respondents failed to settle the outstanding payments. The Airport Authority of India (AAI) commenced privatization, and Adani Group took over the management of Lucknow Airport. The Petitioner communicated with Respondent-2 and
…M/s. Akash Electrotek Engineers Private Limited (Petitioner) is an operational creditor. M/s. NCC Limited (Respondent-1) and M/s. Airport Authority of India (AAI) (Respondent-2) are the respondents. The Petitioner was contracted by Respondent-1 for electrical work at Lucknow Airport, commissioned by Respondent-2. A tripartite agreement was executed. The Petitioner claims to have completed 95% of the work, but the Respondents failed to settle outstanding payments of Rs 1.68 crore. Respondent-2 commenced privatization, and Adani Group took over the management of Lucknow Airport. The Petitioner communicated with Respondent-2 and Adani Group regarding payments, but no resolution was achieved. The Petitioner issued a demand notice under Section 8 of the IBC. Respondent-1
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M/s. Akash Electrotek Engineers Private Limited, the Operational Creditor, filed an application to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. NCC Limited (Respondent-1) and M/s. Airport Authority of India (AAI) (Respondent-2) for alleged default in discharging a debt. The Petitioner was contracted by Respondent-1 for electrical work at Lucknow Airport, which was commissioned by Respondent-2. A tripartite agreement was executed between the parties. The Petitioner claimed to have completed 95% of the work, but the Respondents failed to settle the outstanding payments. The Airport Authority of India (AAI) commenced privatization, and Adani Group took over the management of Lucknow Airport. The Petitioner communicated with Respondent-2 and
…M/s. Akash Electrotek Engineers Private Limited (Petitioner) is an operational creditor. M/s. NCC Limited (Respondent-1) and M/s. Airport Authority of India (AAI) (Respondent-2) are the respondents. The Petitioner was contracted by Respondent-1 for electrical work at Lucknow Airport, commissioned by Respondent-2. A tripartite agreement was executed. The Petitioner claims to have completed 95% of the work, but the Respondents failed to settle outstanding payments of Rs 1.68 crore. Respondent-2 commenced privatization, and Adani Group took over the management of Lucknow Airport. The Petitioner communicated with Respondent-2 and Adani Group regarding payments, but no resolution was achieved. The Petitioner issued a demand notice under Section 8 of the IBC. Respondent-1
…Respondent-2 awarded a…
Respondent-1 appointed…