The petition was filed on 2022-11-16 under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Starworth Infrastructure & Construction Ltd (Operational Creditor/Petitioner/OC) to initiate Corporate Insolvency Resolution Process against M/s Ozone Realtors Pvt Ltd (Corporate Debtor/Respondent/CD). The OC claimed the CD defaulted on a total outstanding amount of Rs.1,38,50,178/-. The Corporate Debtor engaged the services of the Operational Creditor for civil and finishing works in the project, Ozone Polestar at Nagavara, Bengaluru. The OC raised several invoices. After reconciliation, the total amount due was worked out to Rs.1,38,50,178/- along with interest. The CD failed to pay the amount, leading the OC to issue notices demanding payment.
M/s Starworth Infrastructure & Construction Ltd (Operational Creditor) filed a petition against M/s Ozone Realtors Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on a total outstanding amount of Rs.1,38,50,178/-. The Corporate Debtor engaged the services of the Operational Creditor for civil and finishing works in the project, Ozone Polestar at Nagavara, Bengaluru. The Operational Creditor raised several invoices for the work done. The Corporate Debtor contested the petition, arguing that the debt amount did not meet the threshold requirement of Section 4 of the Code and that a pre-existing dispute existed. The Corporate Debtor also argued that the date of
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Corporate Debtor engaged the services of the…
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The petition was filed on 2022-11-16 under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Starworth Infrastructure & Construction Ltd (Operational Creditor/Petitioner/OC) to initiate Corporate Insolvency Resolution Process against M/s Ozone Realtors Pvt Ltd (Corporate Debtor/Respondent/CD). The OC claimed the CD defaulted on a total outstanding amount of Rs.1,38,50,178/-. The Corporate Debtor engaged the services of the Operational Creditor for civil and finishing works in the project, Ozone Polestar at Nagavara, Bengaluru. The OC raised several invoices. After reconciliation, the total amount due was worked out to Rs.1,38,50,178/- along with interest. The CD failed to pay the amount, leading the OC to issue notices demanding payment.
M/s Starworth Infrastructure & Construction Ltd (Operational Creditor) filed a petition against M/s Ozone Realtors Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed that the Corporate Debtor defaulted on a total outstanding amount of Rs.1,38,50,178/-. The Corporate Debtor engaged the services of the Operational Creditor for civil and finishing works in the project, Ozone Polestar at Nagavara, Bengaluru. The Operational Creditor raised several invoices for the work done. The Corporate Debtor contested the petition, arguing that the debt amount did not meet the threshold requirement of Section 4 of the Code and that a pre-existing dispute existed. The Corporate Debtor also argued that the date of
…Corporate Debtor engaged the services of the…
Date of the first…