This case involves an application filed by Amit Infra-Logic (India) Private Limited, the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Builders LLP, the Corporate Debtor (CD). The OC claimed that the CD owed them Rs. 8,29,19,331/- based on a tripartite agreement dated 13.07.2019. The OC is in the business of manufacturing and supplying Ready-Mix Concrete (RMC), while the CD is in the construction business. The debt arose from the supply of RMC and idling charges incurred on the RMC plant.
Amit Infra-Logic (India) Private Limited (OC) filed an application under Section 9 of the IBC to initiate CIRP against Radius & Deserve Builders LLP (CD). The OC claimed a debt of Rs. 8,29,19,331/- arising from a tripartite agreement dated 13.07.2019. The debt comprised the supply of RMC and idling charges for the RMC plant. Capacite Infraprojects Limited awarded the CD a contract to construct 16 buildings under a Slum Redevelopment Authority (SRA) scheme. The CD issued a work order to the OC on 06.11.2015 for setting up an RMC plant. The CD allocated an area to the OC for setting up the RMC plant on 04.12.2019. The tripartite agreement stipulated that the CD would take over the obligation of settling the total receivables. The CD handed over ten post-dated cheques
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Capacite Infraprojects Limited issued a Work…
A tripartite agreement was executed among…
This case involves an application filed by Amit Infra-Logic (India) Private Limited, the Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against Radius & Deserve Builders LLP, the Corporate Debtor (CD). The OC claimed that the CD owed them Rs. 8,29,19,331/- based on a tripartite agreement dated 13.07.2019. The OC is in the business of manufacturing and supplying Ready-Mix Concrete (RMC), while the CD is in the construction business. The debt arose from the supply of RMC and idling charges incurred on the RMC plant.
Amit Infra-Logic (India) Private Limited (OC) filed an application under Section 9 of the IBC to initiate CIRP against Radius & Deserve Builders LLP (CD). The OC claimed a debt of Rs. 8,29,19,331/- arising from a tripartite agreement dated 13.07.2019. The debt comprised the supply of RMC and idling charges for the RMC plant. Capacite Infraprojects Limited awarded the CD a contract to construct 16 buildings under a Slum Redevelopment Authority (SRA) scheme. The CD issued a work order to the OC on 06.11.2015 for setting up an RMC plant. The CD allocated an area to the OC for setting up the RMC plant on 04.12.2019. The tripartite agreement stipulated that the CD would take over the obligation of settling the total receivables. The CD handed over ten post-dated cheques
…Capacite Infraprojects Limited issued a Work…
A tripartite agreement was executed among…