Mithalanchal Constructions, through its partner Mr. Abhishek Kumar, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shreyasi Infra Private Limited. The Operational Creditor claimed that the Corporate Debtor failed to make regular payments for construction work carried out for residential apartments 'Utkarsh Heights' in Sector 71, Sarfabad, Noida, U.P. The Operational Creditor completed work worth Rs. 3,42,83,614, out of which the Corporate Debtor paid Rs. 1,00,89,000, leaving an outstanding amount of Rs. 2,41,94,614. The Corporate Debtor denied the veracity of certain raised bills and alleged that the Operational Creditor suppressed material documents and that
…Mithalanchal Constructions, the Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against Shreyasi Infra Private Limited, the Corporate Debtor. The Operational Creditor claimed that it had carried out construction work for the Corporate Debtor's residential apartment project 'Utkarsh Heights' based on a work order. The total value of the work completed was Rs. 3,42,83,614, but the Corporate Debtor had only paid Rs. 1,00,89,000, leaving an outstanding amount of Rs. 2,41,94,614. The Operational Creditor asserted that it had complied with the terms and conditions of the work order. The Corporate Debtor denied the veracity of the 3rd and 4th RA bills, claiming they were not certified by an engineer as required by the agreement. The
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Work order bearing SIPL/MIPL/Delhi/MCS issued…
The Operational…
Mithalanchal Constructions, through its partner Mr. Abhishek Kumar, filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shreyasi Infra Private Limited. The Operational Creditor claimed that the Corporate Debtor failed to make regular payments for construction work carried out for residential apartments 'Utkarsh Heights' in Sector 71, Sarfabad, Noida, U.P. The Operational Creditor completed work worth Rs. 3,42,83,614, out of which the Corporate Debtor paid Rs. 1,00,89,000, leaving an outstanding amount of Rs. 2,41,94,614. The Corporate Debtor denied the veracity of certain raised bills and alleged that the Operational Creditor suppressed material documents and that
…Mithalanchal Constructions, the Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against Shreyasi Infra Private Limited, the Corporate Debtor. The Operational Creditor claimed that it had carried out construction work for the Corporate Debtor's residential apartment project 'Utkarsh Heights' based on a work order. The total value of the work completed was Rs. 3,42,83,614, but the Corporate Debtor had only paid Rs. 1,00,89,000, leaving an outstanding amount of Rs. 2,41,94,614. The Operational Creditor asserted that it had complied with the terms and conditions of the work order. The Corporate Debtor denied the veracity of the 3rd and 4th RA bills, claiming they were not certified by an engineer as required by the agreement. The
…Work order bearing SIPL/MIPL/Delhi/MCS issued…
The Operational…