IDBI Trusteeship Services Limited, the Operational Creditor (OC), filed CP(IB) No. 624/MB/2022 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Reliance Infrastructure Limited (R-Infra), the Corporate Debtor (CD), due to a default of Rs.88,68,19,930/-. The debt arose from unpaid invoices issued by Dhursar Solar Power Private Limited (DSPPL) for supplying solar energy to the CD, as per an Energy Purchase Agreement (EPA) dated 01.02.2012. The OC, as the security trustee of DSPPL, sought payments against these invoices. The CD filed IA (IBC) No. 3590/MB/2024 challenging the maintainability of the Main Application, arguing that the alleged debt does not qualify as an operational debt under
…IDBI Trusteeship Services Limited (OC) filed an application under Section 9 of the IBC against Reliance Infrastructure Limited (CD) for a default of Rs. 88,68,19,930/-. The debt arose from unpaid invoices issued by Dhursar Solar Power Private Limited (DSPPL) for supplying solar energy to the CD under an Energy Purchase Agreement (EPA) dated 01.02.2012. The OC is the security trustee of DSPPL and sought payments against the invoices issued between 2017 and 2018. The CD argued that the application was barred by limitation, there was a pre-existing dispute with DSPPL, and the OC lacked the locus to file the application. The CD also contended that the claim was already the subject of arbitration invoked by DSPPL. The OC argued that the debt was an operational debt, the
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Energy Purchase Agreement (EPA) dated…
Invoices were issued…
IDBI Trusteeship Services Limited, the Operational Creditor (OC), filed CP(IB) No. 624/MB/2022 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Reliance Infrastructure Limited (R-Infra), the Corporate Debtor (CD), due to a default of Rs.88,68,19,930/-. The debt arose from unpaid invoices issued by Dhursar Solar Power Private Limited (DSPPL) for supplying solar energy to the CD, as per an Energy Purchase Agreement (EPA) dated 01.02.2012. The OC, as the security trustee of DSPPL, sought payments against these invoices. The CD filed IA (IBC) No. 3590/MB/2024 challenging the maintainability of the Main Application, arguing that the alleged debt does not qualify as an operational debt under
…IDBI Trusteeship Services Limited (OC) filed an application under Section 9 of the IBC against Reliance Infrastructure Limited (CD) for a default of Rs. 88,68,19,930/-. The debt arose from unpaid invoices issued by Dhursar Solar Power Private Limited (DSPPL) for supplying solar energy to the CD under an Energy Purchase Agreement (EPA) dated 01.02.2012. The OC is the security trustee of DSPPL and sought payments against the invoices issued between 2017 and 2018. The CD argued that the application was barred by limitation, there was a pre-existing dispute with DSPPL, and the OC lacked the locus to file the application. The CD also contended that the claim was already the subject of arbitration invoked by DSPPL. The OC argued that the debt was an operational debt, the
…Energy Purchase Agreement (EPA) dated…
Invoices were issued…