The case involves an application filed by M/s. Slipform Projects, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Electric & Engineering Co. Ltd, the Corporate Debtor, due to a default in payment of Rs. 1,17,56,595/-. The Operational Creditor and Corporate Debtor entered into a contract for civil works related to projects undertaken by the Corporate Debtor on behalf of Powergrid Corporation of India Ltd. Disputes arose regarding payments for work done at three sites: Mawngap, New Shilong, and Kahelipara. The Corporate Debtor claimed there was a pre-existing dispute, citing the Operational Creditor's failure to pay its sub-vendors and laborers,
…M/s. Slipform Projects, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Electric & Engineering Co. Ltd, the Corporate Debtor, due to a default in payment of Rs. 1,17,56,595/-. The Operational Creditor and Corporate Debtor entered into a contract for civil works related to projects undertaken by the Corporate Debtor on behalf of Powergrid Corporation of India Ltd. The agreement was for construction of Civil Works at three locations: New Shilong, Mawngap, and Kahelipara. Work orders were issued for New Shilong and Mawngap Projects, while an oral agreement existed for the Kahelipara Project. The Operational Creditor raised bills
…Sign in to view the parties.
The Respondent/Corporate Debtor made a payment…
An e-mail was sent by the Corporate Debtor to…
The case involves an application filed by M/s. Slipform Projects, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Electric & Engineering Co. Ltd, the Corporate Debtor, due to a default in payment of Rs. 1,17,56,595/-. The Operational Creditor and Corporate Debtor entered into a contract for civil works related to projects undertaken by the Corporate Debtor on behalf of Powergrid Corporation of India Ltd. Disputes arose regarding payments for work done at three sites: Mawngap, New Shilong, and Kahelipara. The Corporate Debtor claimed there was a pre-existing dispute, citing the Operational Creditor's failure to pay its sub-vendors and laborers,
…M/s. Slipform Projects, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Techno Electric & Engineering Co. Ltd, the Corporate Debtor, due to a default in payment of Rs. 1,17,56,595/-. The Operational Creditor and Corporate Debtor entered into a contract for civil works related to projects undertaken by the Corporate Debtor on behalf of Powergrid Corporation of India Ltd. The agreement was for construction of Civil Works at three locations: New Shilong, Mawngap, and Kahelipara. Work orders were issued for New Shilong and Mawngap Projects, while an oral agreement existed for the Kahelipara Project. The Operational Creditor raised bills
…The Respondent/Corporate Debtor made a payment…
An e-mail was sent by the Corporate Debtor to…