Drilltech Engineers Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shapoorji Pallonji & Co. Pvt. Ltd., the Corporate Debtor. The Operational Creditor claimed a total debt amount of Rs. 23,86,882, including amounts due from invoices and retention money. The Corporate Debtor was incorporated on 23.01.1943. The Operational Creditor issued work orders to the Corporate Debtor for services including mobilization, drilling, cutting, binding, and mock disposal.
Drilltech Engineers Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Shapoorji Pallonji & Co. Pvt. Ltd. (Corporate Debtor). The Corporate Debtor issued work orders to the Operational Creditor for services like mobilization, drilling, and cutting. The Operational Creditor claimed Rs. 23,86,882/- as the total debt, including invoice amounts and retention money. The date of default was stated as 31.03.2013. The Operational Creditor claimed that retention money was to be released one year after each R.A. Bill. The Corporate Debtor argued that the petition was barred by limitation, as the invoices were unpaid and the acknowledgement of debt was made after the limitation period.
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Shapoorji Pallonji &…
Corporate Debtor issued…
Drilltech Engineers Private Limited, the Operational Creditor, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shapoorji Pallonji & Co. Pvt. Ltd., the Corporate Debtor. The Operational Creditor claimed a total debt amount of Rs. 23,86,882, including amounts due from invoices and retention money. The Corporate Debtor was incorporated on 23.01.1943. The Operational Creditor issued work orders to the Corporate Debtor for services including mobilization, drilling, cutting, binding, and mock disposal.
Drilltech Engineers Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Shapoorji Pallonji & Co. Pvt. Ltd. (Corporate Debtor). The Corporate Debtor issued work orders to the Operational Creditor for services like mobilization, drilling, and cutting. The Operational Creditor claimed Rs. 23,86,882/- as the total debt, including invoice amounts and retention money. The date of default was stated as 31.03.2013. The Operational Creditor claimed that retention money was to be released one year after each R.A. Bill. The Corporate Debtor argued that the petition was barred by limitation, as the invoices were unpaid and the acknowledgement of debt was made after the limitation period.
…Shapoorji Pallonji &…
Corporate Debtor issued…