The case involves an application filed by Sugana Ram Jat, Proprietor of M/s. Kamakhya Infra Power (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Shyama Power India Ltd. (Corporate Debtor). The Operational Creditor claimed a default of Rs. 2,71,37,451/-. The Corporate Debtor contested the application, asserting the existence of pre-existing disputes and statutory infirmities in the application.
Sugana Ram Jat, operating as M/s Kamakhya Infra Power, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Shyama Power India Ltd. The applicant, an operational creditor, claimed a default of Rs. 2,71,37,451. The operational creditor was engaged in civil works contracts for the corporate debtor, including benching, excavation, and casting of foundations. The corporate debtor is a private limited company incorporated under the Companies Act, 1956. The corporate debtor placed work orders with the operational creditor, but disputes arose regarding the quality of work and payment terms. The last payment was received on 2021-09-24. The corporate debtor claimed that the operational creditor failed to provide Joint Measurement
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Work orders wer…
The Applicant was…
The case involves an application filed by Sugana Ram Jat, Proprietor of M/s. Kamakhya Infra Power (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Shyama Power India Ltd. (Corporate Debtor). The Operational Creditor claimed a default of Rs. 2,71,37,451/-. The Corporate Debtor contested the application, asserting the existence of pre-existing disputes and statutory infirmities in the application.
Sugana Ram Jat, operating as M/s Kamakhya Infra Power, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Shyama Power India Ltd. The applicant, an operational creditor, claimed a default of Rs. 2,71,37,451. The operational creditor was engaged in civil works contracts for the corporate debtor, including benching, excavation, and casting of foundations. The corporate debtor is a private limited company incorporated under the Companies Act, 1956. The corporate debtor placed work orders with the operational creditor, but disputes arose regarding the quality of work and payment terms. The last payment was received on 2021-09-24. The corporate debtor claimed that the operational creditor failed to provide Joint Measurement
…Work orders wer…
The Applicant was…