The case involves an application filed by Trutech Constructions Pvt Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vensar Constructions Company (Corporate Debtor) for failing to discharge a debt of Rs. 81,88,914. The debt includes a principal amount of Rs. 57,58,175 and interest of Rs. 24,30,739. The Operational Creditor was engaged by the Corporate Debtor for reconstruction of Dam Intakes and Allied structures for a total contract value of Rs. 18,92,34,446. The Corporate Debtor communicated to the Operational Creditor that Lanco Infratech Limited had informed to stop all the construction activities on the project site with immediate effect and instructed the same to the Operational Creditor and instructed to measure all
…Trutech Constructions Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vensar Constructions Company (Corporate Debtor) for failing to pay a debt of Rs. 81,88,914, which includes a principal of Rs. 57,58,175 and interest of Rs. 24,30,739. The debt arose from a contract where the Operational Creditor was engaged to reconstruct Dam Intakes and Allied structures for the Corporate Debtor's Hydro Electric Project at Uttarakhand for a total contract value of Rs. 18,92,34,446. The project was to be completed by 30.06.2018. The Operational Creditor commenced work, and Measurement Books were maintained and signed by both parties. The Corporate Debtor, via a letter dated 01.08.2017, informed the Operational
…Sign in to view the parties.
Corporate Debtor granted the Contract to the…
Entire scope of work…
The case involves an application filed by Trutech Constructions Pvt Ltd (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vensar Constructions Company (Corporate Debtor) for failing to discharge a debt of Rs. 81,88,914. The debt includes a principal amount of Rs. 57,58,175 and interest of Rs. 24,30,739. The Operational Creditor was engaged by the Corporate Debtor for reconstruction of Dam Intakes and Allied structures for a total contract value of Rs. 18,92,34,446. The Corporate Debtor communicated to the Operational Creditor that Lanco Infratech Limited had informed to stop all the construction activities on the project site with immediate effect and instructed the same to the Operational Creditor and instructed to measure all
…Trutech Constructions Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Vensar Constructions Company (Corporate Debtor) for failing to pay a debt of Rs. 81,88,914, which includes a principal of Rs. 57,58,175 and interest of Rs. 24,30,739. The debt arose from a contract where the Operational Creditor was engaged to reconstruct Dam Intakes and Allied structures for the Corporate Debtor's Hydro Electric Project at Uttarakhand for a total contract value of Rs. 18,92,34,446. The project was to be completed by 30.06.2018. The Operational Creditor commenced work, and Measurement Books were maintained and signed by both parties. The Corporate Debtor, via a letter dated 01.08.2017, informed the Operational
…Corporate Debtor granted the Contract to the…
Entire scope of work…