Life Construction Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against VGS Realty Construction Private Limited. The operational debt claimed was Rs. 19,63,46,629/-, with the date of default being 15th March 2019. The Operational Creditor claimed to have provided construction services to the Corporate Debtor based on work orders, raising invoices between December 2014 and March 2019, totaling Rs. 78,57,01,345/-. The Corporate Debtor made partial payments, leaving a balance unpaid.
Life Construction Private Limited (Operational Creditor) filed a petition against VGS Realty Construction Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an operational debt of Rs. 19,63,46,629/- with the date of default being 15th March 2019. The Operational Creditor provided construction services to the Corporate Debtor based on work orders, raising invoices between December 2014 and March 2019, totaling Rs. 78,57,01,345/-. The Corporate Debtor made partial payments of Rs. 55,99,97,609/-, leaving a balance unpaid. The Operational Creditor issued a Demand Letter on 15th March 2022, and a Demand Notice on 13th May 2022. The Corporate Debtor made a part payment of Rs. 75,00,000/- on 12th September 2022. The
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Life Construction Private Limited filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against VGS Realty Construction Private Limited. The operational debt claimed was Rs. 19,63,46,629/-, with the date of default being 15th March 2019. The Operational Creditor claimed to have provided construction services to the Corporate Debtor based on work orders, raising invoices between December 2014 and March 2019, totaling Rs. 78,57,01,345/-. The Corporate Debtor made partial payments, leaving a balance unpaid.
Life Construction Private Limited (Operational Creditor) filed a petition against VGS Realty Construction Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an operational debt of Rs. 19,63,46,629/- with the date of default being 15th March 2019. The Operational Creditor provided construction services to the Corporate Debtor based on work orders, raising invoices between December 2014 and March 2019, totaling Rs. 78,57,01,345/-. The Corporate Debtor made partial payments of Rs. 55,99,97,609/-, leaving a balance unpaid. The Operational Creditor issued a Demand Letter on 15th March 2022, and a Demand Notice on 13th May 2022. The Corporate Debtor made a part payment of Rs. 75,00,000/- on 12th September 2022. The
…Invoices were…
The date of de…