The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Tamilnadu Water Investment Company Limited (Operational Creditor) against M/s. S. Periyapalayem Common Effluent Treatment Plant Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs.97,58,856/-. The Corporate Debtor argued that there were pre-existing disputes regarding the invoices raised by the Operational Creditor and deficiencies in the services rendered.
Tamilnadu Water Investment Company Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. S. Periyapalayem Common Effluent Treatment Plant Private Limited (Corporate Debtor) for a default of Rs.97,58,856/-, including principal and interest. The Operational Creditor and Corporate Debtor entered into a Project Management Agency Services (PMA) Agreement on 22.08.2012 and Operation and Supervision, Maintenance and Repair Agreements (O&M Agreements) on 23.08.2013. The Corporate Debtor requested the Operational Creditor to take over Operation and Maintenance of its Common Effluent Treatment Plant (CETP). The Operational Creditor raised invoices periodically, but the Corporate Debtor made payments with
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Project Management Agency Services (PMA)…
Operation and Supervision, Maintenance and…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Tamilnadu Water Investment Company Limited (Operational Creditor) against M/s. S. Periyapalayem Common Effluent Treatment Plant Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed a default of Rs.97,58,856/-. The Corporate Debtor argued that there were pre-existing disputes regarding the invoices raised by the Operational Creditor and deficiencies in the services rendered.
Tamilnadu Water Investment Company Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. S. Periyapalayem Common Effluent Treatment Plant Private Limited (Corporate Debtor) for a default of Rs.97,58,856/-, including principal and interest. The Operational Creditor and Corporate Debtor entered into a Project Management Agency Services (PMA) Agreement on 22.08.2012 and Operation and Supervision, Maintenance and Repair Agreements (O&M Agreements) on 23.08.2013. The Corporate Debtor requested the Operational Creditor to take over Operation and Maintenance of its Common Effluent Treatment Plant (CETP). The Operational Creditor raised invoices periodically, but the Corporate Debtor made payments with
…Project Management Agency Services (PMA)…
Operation and Supervision, Maintenance and…