The case involves a Company Petition (IB)-762(MB)/2022 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Aluplex India Private Limited (Operational Creditor/Petitioner) against Omkar Realtors and Developers Private Limited (Corporate Debtor/Respondent) for default in repayment of Rs. 27,46,44,092.56. The Corporate Debtor is involved in real estate development, specifically the Omkar Worli Project, and engaged the Operational Creditor for Façade Labour Works under a contract dated 28.10.2015. Disputes arose regarding payments for the work done, leading to the filing of the petition.
Aluplex India Private Limited (Operational Creditor) filed a petition against Omkar Realtors and Developers Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for a default of Rs. 27,46,44,092.56. The Corporate Debtor engaged the Operational Creditor for Façade Labour Works for the Omkar Worli Project under a contract dated 28.10.2015. The Operational Creditor completed work, raised payment receipts, and followed up for payments, but the Corporate Debtor failed to pay the amount due. Several communications were exchanged between the parties regarding the release of payments. The Operational Creditor sent a Demand Notice in Form 3 on 31.08.2021, which the Corporate Debtor replied to, denying the amount owed. The Operational
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A work contract was executed between the…
The Operational Creditor raised a Payment…
The case involves a Company Petition (IB)-762(MB)/2022 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Aluplex India Private Limited (Operational Creditor/Petitioner) against Omkar Realtors and Developers Private Limited (Corporate Debtor/Respondent) for default in repayment of Rs. 27,46,44,092.56. The Corporate Debtor is involved in real estate development, specifically the Omkar Worli Project, and engaged the Operational Creditor for Façade Labour Works under a contract dated 28.10.2015. Disputes arose regarding payments for the work done, leading to the filing of the petition.
Aluplex India Private Limited (Operational Creditor) filed a petition against Omkar Realtors and Developers Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for a default of Rs. 27,46,44,092.56. The Corporate Debtor engaged the Operational Creditor for Façade Labour Works for the Omkar Worli Project under a contract dated 28.10.2015. The Operational Creditor completed work, raised payment receipts, and followed up for payments, but the Corporate Debtor failed to pay the amount due. Several communications were exchanged between the parties regarding the release of payments. The Operational Creditor sent a Demand Notice in Form 3 on 31.08.2021, which the Corporate Debtor replied to, denying the amount owed. The Operational
…A work contract was executed between the…
The Operational Creditor raised a Payment…