This case involves an application filed by M/s. Synergy Property Development Services Private Limited (Operational Creditor - OC) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Patel Engineering Limited (Corporate Debtor - CD). The OC claimed an operational debt of Rs. 1,15,77,256/- including principal and interest, based on unpaid invoices for services rendered during 2013-2014. The CD contested the application, arguing it was barred by limitation and raised disputes regarding the quality of work and invoices.
Synergy Property Development Services Private Limited (Operational Creditor - OC) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Patel Engineering Limited (Corporate Debtor - CD). The OC claimed an operational debt of Rs. 1,15,77,256/- based on unpaid invoices for services rendered as a Project Management and Construction Consultant for the CD's project called “Construction of Patel Corporate Office-Mumbai”. The agreement between the OC and CD was dated 01.02.2011. The OC was appointed as the Consultant. The OC raised invoices between 01.03.2013 and 01.09.2014. The OC issued a demand notice under Section 8 of the IBC on 17.01.2017, to which the CD replied on
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The Operational Creditor (OC) and Corporate…
Invoices were raised by…
This case involves an application filed by M/s. Synergy Property Development Services Private Limited (Operational Creditor - OC) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Patel Engineering Limited (Corporate Debtor - CD). The OC claimed an operational debt of Rs. 1,15,77,256/- including principal and interest, based on unpaid invoices for services rendered during 2013-2014. The CD contested the application, arguing it was barred by limitation and raised disputes regarding the quality of work and invoices.
Synergy Property Development Services Private Limited (Operational Creditor - OC) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Patel Engineering Limited (Corporate Debtor - CD). The OC claimed an operational debt of Rs. 1,15,77,256/- based on unpaid invoices for services rendered as a Project Management and Construction Consultant for the CD's project called “Construction of Patel Corporate Office-Mumbai”. The agreement between the OC and CD was dated 01.02.2011. The OC was appointed as the Consultant. The OC raised invoices between 01.03.2013 and 01.09.2014. The OC issued a demand notice under Section 8 of the IBC on 17.01.2017, to which the CD replied on
…The Operational Creditor (OC) and Corporate…
Invoices were raised by…