Hertz Technologies Pvt. Ltd. (Operational Creditor) filed a company petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Netizen Engineering Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational debt claimed was Rs. 53,59,952.62 for electrical and utility works carried out between 17.08.2009 and 22.01.2015. The Corporate Debtor opposed the petition, citing reasons such as the petition being incomplete, claims being barred by limitation, misjoinder of cause of action, interest claims contrary to work orders, and abuse of the Code.
Hertz Technologies Pvt. Ltd. (Operational Creditor) sought to initiate CIRP against Netizen Engineering Private Limited (Corporate Debtor) for an operational debt of Rs. 53,59,952.62 related to electrical and utility works. The works were performed between 17.08.2009 and 22.01.2015. The Operational Creditor filed the company petition on 26.04.2019. The Corporate Debtor made a last payment on 11.03.2016. The Operational Creditor issued a demand notice under Section 8 of the IBC on 18.06.2018. The Corporate Debtor argued that the claims were time-barred. The Operational Creditor contended that the limitation period should be calculated from the date of the Section 8 notice or the last payment. The Operational Creditor did not provide the page containing the payment
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Hertz Technologies Pvt. Ltd. (Operational Creditor) filed a company petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Netizen Engineering Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational debt claimed was Rs. 53,59,952.62 for electrical and utility works carried out between 17.08.2009 and 22.01.2015. The Corporate Debtor opposed the petition, citing reasons such as the petition being incomplete, claims being barred by limitation, misjoinder of cause of action, interest claims contrary to work orders, and abuse of the Code.
Hertz Technologies Pvt. Ltd. (Operational Creditor) sought to initiate CIRP against Netizen Engineering Private Limited (Corporate Debtor) for an operational debt of Rs. 53,59,952.62 related to electrical and utility works. The works were performed between 17.08.2009 and 22.01.2015. The Operational Creditor filed the company petition on 26.04.2019. The Corporate Debtor made a last payment on 11.03.2016. The Operational Creditor issued a demand notice under Section 8 of the IBC on 18.06.2018. The Corporate Debtor argued that the claims were time-barred. The Operational Creditor contended that the limitation period should be calculated from the date of the Section 8 notice or the last payment. The Operational Creditor did not provide the page containing the payment
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Operational Creditor…