The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mantra Corporation, an operational creditor, against Sadbhav Infrastructure Project Limited, the corporate debtor. The operational creditor claimed a default amount of Rs 1,35,68,193/-, comprising a principal amount of Rs 95,66,243/- and interest of Rs 40,01,949/-, arising from work orders issued to the operational creditor for road construction. The corporate debtor contested the application, asserting pre-existing disputes regarding the quality of work and the inclusion of interest in the operational debt.
Mantra Corporation, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sadbhav Infrastructure Project Limited, the corporate debtor, for a default amount of Rs 1,35,68,193/-. This amount included a principal of Rs 95,66,243/- and interest of Rs 40,01,949/-. The debt arose from work orders issued to Mantra Corporation for road construction around Ahmedabad. Sadbhav Infrastructure Project Limited argued that there were pre-existing disputes regarding the quality of the work performed by Mantra Corporation. They cited email communications and letters where they requested Mantra Corporation to rectify defects in the work. The corporate debtor also argued that the interest amount could not be included in the
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Corporate debtor issued…
Corporate debtor issued…
The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mantra Corporation, an operational creditor, against Sadbhav Infrastructure Project Limited, the corporate debtor. The operational creditor claimed a default amount of Rs 1,35,68,193/-, comprising a principal amount of Rs 95,66,243/- and interest of Rs 40,01,949/-, arising from work orders issued to the operational creditor for road construction. The corporate debtor contested the application, asserting pre-existing disputes regarding the quality of work and the inclusion of interest in the operational debt.
Mantra Corporation, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Sadbhav Infrastructure Project Limited, the corporate debtor, for a default amount of Rs 1,35,68,193/-. This amount included a principal of Rs 95,66,243/- and interest of Rs 40,01,949/-. The debt arose from work orders issued to Mantra Corporation for road construction around Ahmedabad. Sadbhav Infrastructure Project Limited argued that there were pre-existing disputes regarding the quality of the work performed by Mantra Corporation. They cited email communications and letters where they requested Mantra Corporation to rectify defects in the work. The corporate debtor also argued that the interest amount could not be included in the
…Corporate debtor issued…
Corporate debtor issued…