The case involves a Company Petition filed by Markolines Infra Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Sion Panvel Tollways Private Limited (Corporate Debtor) for a resolution of operational debt amounting to Rs. 63,60,231. The Petitioner claims to have been appointed as Toll Operator/Contractor by the Respondent, and despite issuing several invoices, the Respondent failed to make payments. Settlement talks occurred, with the Respondent admitting to an outstanding amount of Rs. 27,96,397 in an email dated 2017-03-16, but failing to pay. A legal notice was issued by the Petitioner on 2017-11-18 for recovery of dues, which the Respondent
…Markolines Infra 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 Sion Panvel Tollways Private Limited (Corporate Debtor) for an operational debt of Rs. 63,60,231. The Operational Creditor was appointed as Toll Operator/Contractor by the Corporate Debtor. Several invoices were issued, but the Corporate Debtor failed to make payments. Settlement talks occurred, and the Corporate Debtor admitted to owing Rs. 27,96,397 in an email dated 2017-03-16. A legal notice was issued on 2017-11-18, which the Corporate Debtor denied. The Corporate Debtor approached the Operational Creditor to settle the debt, admitting to owing Rs. 39,88,542 via
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Petitioner appointed by Respondent vide…
Settlement talks…
The case involves a Company Petition filed by Markolines Infra Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Sion Panvel Tollways Private Limited (Corporate Debtor) for a resolution of operational debt amounting to Rs. 63,60,231. The Petitioner claims to have been appointed as Toll Operator/Contractor by the Respondent, and despite issuing several invoices, the Respondent failed to make payments. Settlement talks occurred, with the Respondent admitting to an outstanding amount of Rs. 27,96,397 in an email dated 2017-03-16, but failing to pay. A legal notice was issued by the Petitioner on 2017-11-18 for recovery of dues, which the Respondent
…Markolines Infra 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 Sion Panvel Tollways Private Limited (Corporate Debtor) for an operational debt of Rs. 63,60,231. The Operational Creditor was appointed as Toll Operator/Contractor by the Corporate Debtor. Several invoices were issued, but the Corporate Debtor failed to make payments. Settlement talks occurred, and the Corporate Debtor admitted to owing Rs. 27,96,397 in an email dated 2017-03-16. A legal notice was issued on 2017-11-18, which the Corporate Debtor denied. The Corporate Debtor approached the Operational Creditor to settle the debt, admitting to owing Rs. 39,88,542 via
…Petitioner appointed by Respondent vide…
Settlement talks…