The case involves an application filed by Datacorp Traffic Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against VaaaN Infra Private Limited (Corporate Debtor) for non-payment of dues amounting to Rs. 3,97,17,481/- for services provided. The Corporate Debtor is engaged in Tech systems, Infrastructure & Intelligent Transport Solutions and was contracted by M/s Indian Highways Management Company Limited (IHMCL) for highway projects. The Corporate Debtor alleges disputes regarding the quality and timeliness of services provided by the Operational Creditor, referring to Clause 6 of their contract which includes penalties for delayed or rejected
…Datacorp Traffic Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against VaaaN Infra Private Limited (Corporate Debtor) for non-payment of Rs. 3,97,17,481/- for services rendered. The Corporate Debtor, engaged in Tech systems, Infrastructure & Intelligent Transport Solutions, was contracted by M/s Indian Highways Management Company Limited (IHMCL) for highway projects. The Operational Creditor conducted ATCC traffic surveys on 2 and 4 lane sites in Gujarat and Maharashtra based on purchase orders from the Corporate Debtor. Invoices were raised, with payment terms of 60 days from submission. The Corporate Debtor claimed disputes regarding service quality and delays, referencing Clause 6 of the
…Sign in to view the parties.
Operational Creditor…
Corporate Debtor…
The case involves an application filed by Datacorp Traffic Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against VaaaN Infra Private Limited (Corporate Debtor) for non-payment of dues amounting to Rs. 3,97,17,481/- for services provided. The Corporate Debtor is engaged in Tech systems, Infrastructure & Intelligent Transport Solutions and was contracted by M/s Indian Highways Management Company Limited (IHMCL) for highway projects. The Corporate Debtor alleges disputes regarding the quality and timeliness of services provided by the Operational Creditor, referring to Clause 6 of their contract which includes penalties for delayed or rejected
…Datacorp Traffic Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against VaaaN Infra Private Limited (Corporate Debtor) for non-payment of Rs. 3,97,17,481/- for services rendered. The Corporate Debtor, engaged in Tech systems, Infrastructure & Intelligent Transport Solutions, was contracted by M/s Indian Highways Management Company Limited (IHMCL) for highway projects. The Operational Creditor conducted ATCC traffic surveys on 2 and 4 lane sites in Gujarat and Maharashtra based on purchase orders from the Corporate Debtor. Invoices were raised, with payment terms of 60 days from submission. The Corporate Debtor claimed disputes regarding service quality and delays, referencing Clause 6 of the
…Operational Creditor…
Corporate Debtor…