The case involves an application filed by Shyam Duvey, Proprietor of Harsh Agencies and Infra Projects (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Rajtech Infrastructure Private Limited (Corporate Debtor). The operational debt arises from unpaid dues for goods and services provided by the Applicant to the Respondent under two separate projects in Rajasthan and Madhya Pradesh. The Applicant claims a total debt of Rs. 86,44,102/-, including principal and interest.
Shyam Duvey, operating as Harsh Agencies and Infra Projects, filed an application to initiate CIRP against Rajtech Infrastructure Pvt. Ltd. under Section 9 of the IBC. The operational debt claimed is Rs. 86,44,102/-, inclusive of interest, stemming from unpaid invoices for goods and services provided for projects in Rajasthan and Madhya Pradesh. In Rajasthan, 22 invoices totaling Rs. 82,29,720/- were raised between 2012 and 2017, with Rs. 43,77,113/- paid, leaving Rs. 38,52,607/- outstanding. Interest at 18% per annum was stipulated for late payments. In Madhya Pradesh, 5 invoices totaling Rs. 40,82,933/- were raised between 2018, with Rs. 13,61,921/- paid, leaving Rs. 27,21,012/- outstanding, also subject to 18% interest. Rajtech acknowledged the debt in a letter
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The case involves an application filed by Shyam Duvey, Proprietor of Harsh Agencies and Infra Projects (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Rajtech Infrastructure Private Limited (Corporate Debtor). The operational debt arises from unpaid dues for goods and services provided by the Applicant to the Respondent under two separate projects in Rajasthan and Madhya Pradesh. The Applicant claims a total debt of Rs. 86,44,102/-, including principal and interest.
Shyam Duvey, operating as Harsh Agencies and Infra Projects, filed an application to initiate CIRP against Rajtech Infrastructure Pvt. Ltd. under Section 9 of the IBC. The operational debt claimed is Rs. 86,44,102/-, inclusive of interest, stemming from unpaid invoices for goods and services provided for projects in Rajasthan and Madhya Pradesh. In Rajasthan, 22 invoices totaling Rs. 82,29,720/- were raised between 2012 and 2017, with Rs. 43,77,113/- paid, leaving Rs. 38,52,607/- outstanding. Interest at 18% per annum was stipulated for late payments. In Madhya Pradesh, 5 invoices totaling Rs. 40,82,933/- were raised between 2018, with Rs. 13,61,921/- paid, leaving Rs. 27,21,012/- outstanding, also subject to 18% interest. Rajtech acknowledged the debt in a letter
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Applicant raised the…