The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by ABB Power Products and Systems India Limited ("Operational Creditor") against Sigma-C Infrastructure Private Limited ("Corporate Debtor") to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor failed to make payment of Rs. 10,10,88,798/-, which includes principal and interest. The Corporate Debtor allegedly issued purchase orders for the supply of GIS and other equipment, but disputes arose regarding the quality and quantity of materials supplied, leading to non-payment.
ABB Power Products and Systems India Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sigma-C Infrastructure Private Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs. 10,10,88,798/- (including principal and interest). The Corporate Debtor had issued six purchase orders to ABB India Limited (whose power grid business was later demerged into the Operational Creditor) for the supply of GIS and other equipment. Three of these purchase orders were amended over time. The Operational Creditor submitted invoices for Rs. 8,13,85,345/- to the Corporate Debtor. The Corporate Debtor made partial payments totaling Rs.
…Sign in to view the parties.
Operational Creditor issued a demand notice to…
The present petition…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by ABB Power Products and Systems India Limited ("Operational Creditor") against Sigma-C Infrastructure Private Limited ("Corporate Debtor") to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor failed to make payment of Rs. 10,10,88,798/-, which includes principal and interest. The Corporate Debtor allegedly issued purchase orders for the supply of GIS and other equipment, but disputes arose regarding the quality and quantity of materials supplied, leading to non-payment.
ABB Power Products and Systems India Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sigma-C Infrastructure Private Limited (Corporate Debtor). The Operational Creditor claimed a default of Rs. 10,10,88,798/- (including principal and interest). The Corporate Debtor had issued six purchase orders to ABB India Limited (whose power grid business was later demerged into the Operational Creditor) for the supply of GIS and other equipment. Three of these purchase orders were amended over time. The Operational Creditor submitted invoices for Rs. 8,13,85,345/- to the Corporate Debtor. The Corporate Debtor made partial payments totaling Rs.
…Operational Creditor issued a demand notice to…
The present petition…