The case pertains to a petition filed by M/s. Shapoorji Pallonji & Co. Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sinnar Thermal Power Limited (Corporate Debtor). The Operational Creditor and Corporate Debtor entered into a contract for civil and structural work for a power project. Disputes arose regarding payments, leading to the Operational Creditor issuing a demand notice under Section 8 of the IBC. The Corporate Debtor claimed pre-existing disputes and deficiencies in service.
M/s. Shapoorji Pallonji & Co. Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sinnar Thermal Power Limited (Corporate Debtor). The two parties had entered into a contract dated 28.05.2010 for civil and structural work for a power project. The total contract value was Rs. 224,13,18,811.04/- inclusive of GST. The Operational Creditor completed the awarded work on 31.03.2018. The Operational Creditor submitted a final bill on 25.04.2018. The Operational Creditor sent a demand notice under Section 8 of the IBC on 16.08.2019, claiming Rs. 62,19,63,338/-. The Corporate Debtor replied on 29.08.2019, raising disputes for the first
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Operational Creditor and Corporate Debtor…
Operational C…
The case pertains to a petition filed by M/s. Shapoorji Pallonji & Co. Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sinnar Thermal Power Limited (Corporate Debtor). The Operational Creditor and Corporate Debtor entered into a contract for civil and structural work for a power project. Disputes arose regarding payments, leading to the Operational Creditor issuing a demand notice under Section 8 of the IBC. The Corporate Debtor claimed pre-existing disputes and deficiencies in service.
M/s. Shapoorji Pallonji & Co. Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Sinnar Thermal Power Limited (Corporate Debtor). The two parties had entered into a contract dated 28.05.2010 for civil and structural work for a power project. The total contract value was Rs. 224,13,18,811.04/- inclusive of GST. The Operational Creditor completed the awarded work on 31.03.2018. The Operational Creditor submitted a final bill on 25.04.2018. The Operational Creditor sent a demand notice under Section 8 of the IBC on 16.08.2019, claiming Rs. 62,19,63,338/-. The Corporate Debtor replied on 29.08.2019, raising disputes for the first
…Operational Creditor and Corporate Debtor…
Operational C…