The case involves an application filed by Tejendrakumar Patel, an Operational Creditor/Applicant, against Vikas Procon Private Limited, the Corporate Debtor/Respondent, under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is a sole proprietor of Comprehensive Design Architects and had business relations with the Vikas Group since February 2012 for architectural projects. The Corporate Debtor had appointed the Operational Creditor in 2015 to provide architectural services for a fee. Disputes arose regarding payments, leading to the application for CIRP.
Tejendrakumar Patel, proprietor of Comprehensive Design Architects (Operational Creditor), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Vikas Procon Private Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor and the Corporate Debtor had a business relationship since February 2012. The Corporate Debtor appointed the Operational Creditor on 20.05.2015 to provide architectural services at Rs. 10 per square foot. The Operational Creditor shared invoicing protocols on 12.02.2018. The Corporate Debtor paid Rs. 76,27,778 until 31.03.2019. The total claim was Rs. 4,24,56,016, inclusive of interest under the MSME Act, with a default date of 01.07.2019. The Operational Creditor sent an invoicing protocol and
…Sign in to view the parties.
The Operational Creditor and Vikas Group…
The Corporate Debtor…
The case involves an application filed by Tejendrakumar Patel, an Operational Creditor/Applicant, against Vikas Procon Private Limited, the Corporate Debtor/Respondent, under Section 9 of the Insolvency & Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP). The Operational Creditor is a sole proprietor of Comprehensive Design Architects and had business relations with the Vikas Group since February 2012 for architectural projects. The Corporate Debtor had appointed the Operational Creditor in 2015 to provide architectural services for a fee. Disputes arose regarding payments, leading to the application for CIRP.
Tejendrakumar Patel, proprietor of Comprehensive Design Architects (Operational Creditor), filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Vikas Procon Private Limited (Corporate Debtor) for initiating CIRP. The Operational Creditor and the Corporate Debtor had a business relationship since February 2012. The Corporate Debtor appointed the Operational Creditor on 20.05.2015 to provide architectural services at Rs. 10 per square foot. The Operational Creditor shared invoicing protocols on 12.02.2018. The Corporate Debtor paid Rs. 76,27,778 until 31.03.2019. The total claim was Rs. 4,24,56,016, inclusive of interest under the MSME Act, with a default date of 01.07.2019. The Operational Creditor sent an invoicing protocol and
…The Operational Creditor and Vikas Group…
The Corporate Debtor…