GPLD Infra Projects Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shinde Developers Private Limited, the Corporate Debtor, due to unpaid operational debt. The Operational Creditor, an MSME-registered company, engaged in road construction activities, was approached by the Corporate Debtor in October 2021 for quarrying and crushing work for a road project. Two work orders were issued on 01.11.2021. The Corporate Debtor failed to pay the outstanding operational debt of Rs.1,44,00,648/- along with compound interest of Rs.13,11,736/-, totaling Rs.1,57,12,384/- for services rendered during the financial years 2021-2022 and
…In October 2021, Shinde Developers Private Limited (Corporate Debtor), engaged in real estate and infrastructure development, approached GPLD Infra Projects Private Limited (Operational Creditor), an MSME-registered company specializing in road construction, for quarrying and crushing work for a road project extending from Savali Vihir to Ahmednagar Bypass NH 160. The Corporate Debtor issued two Work Orders to the Operational Creditor on 01.11.2021: one for crushing, drilling, blasting, sizing, loading, and transport, and another for a mobile crusher plant. As per the work order terms, the Corporate Debtor was responsible for electricity and diesel supply, quarry land, etc., and invoices were to be paid within 45 days of submission. The Operational Creditor commenced
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Corporate Debtor approached Operational…
Corporate Debtor issued…
GPLD Infra Projects Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shinde Developers Private Limited, the Corporate Debtor, due to unpaid operational debt. The Operational Creditor, an MSME-registered company, engaged in road construction activities, was approached by the Corporate Debtor in October 2021 for quarrying and crushing work for a road project. Two work orders were issued on 01.11.2021. The Corporate Debtor failed to pay the outstanding operational debt of Rs.1,44,00,648/- along with compound interest of Rs.13,11,736/-, totaling Rs.1,57,12,384/- for services rendered during the financial years 2021-2022 and
…In October 2021, Shinde Developers Private Limited (Corporate Debtor), engaged in real estate and infrastructure development, approached GPLD Infra Projects Private Limited (Operational Creditor), an MSME-registered company specializing in road construction, for quarrying and crushing work for a road project extending from Savali Vihir to Ahmednagar Bypass NH 160. The Corporate Debtor issued two Work Orders to the Operational Creditor on 01.11.2021: one for crushing, drilling, blasting, sizing, loading, and transport, and another for a mobile crusher plant. As per the work order terms, the Corporate Debtor was responsible for electricity and diesel supply, quarry land, etc., and invoices were to be paid within 45 days of submission. The Operational Creditor commenced
…Corporate Debtor approached Operational…
Corporate Debtor issued…