The case involves a petition filed by Tricon Infra Buildtech Pvt Ltd (Operational Creditor/Petitioner) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Chakan Developers Pvt Ltd (Corporate Debtor/Respondent) for an alleged default of Rs. 2,00,26,690/-. The Operational Creditor provided services to the Corporate Debtor based on a service work order issued on 14.12.2021. The Corporate Debtor acknowledged the debt but failed to make payments, citing financial difficulties and the impact of the Covid-19 pandemic.
Tricon Infra Buildtech Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Chakan Developers Pvt Ltd (Corporate Debtor) for a default of Rs. 2,00,26,690/-. The Operational Creditor provided civil and building construction services to the Corporate Debtor based on a service work order dated 14.12.2021. The services included compaction of earth, excavation, leveling, road work, rubble soling, and RCC pipe laying. The Operational Creditor raised invoices for Rs. 1,51,73,325/-. The Corporate Debtor acknowledged the debt but failed to make payments, citing financial difficulties due to unpaid payments, lack of flat sales, and the impact of the
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The Respondent issued a Service Work Order…
Operational Creditor…
The case involves a petition filed by Tricon Infra Buildtech Pvt Ltd (Operational Creditor/Petitioner) under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Chakan Developers Pvt Ltd (Corporate Debtor/Respondent) for an alleged default of Rs. 2,00,26,690/-. The Operational Creditor provided services to the Corporate Debtor based on a service work order issued on 14.12.2021. The Corporate Debtor acknowledged the debt but failed to make payments, citing financial difficulties and the impact of the Covid-19 pandemic.
Tricon Infra Buildtech Pvt Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Xrbia Chakan Developers Pvt Ltd (Corporate Debtor) for a default of Rs. 2,00,26,690/-. The Operational Creditor provided civil and building construction services to the Corporate Debtor based on a service work order dated 14.12.2021. The services included compaction of earth, excavation, leveling, road work, rubble soling, and RCC pipe laying. The Operational Creditor raised invoices for Rs. 1,51,73,325/-. The Corporate Debtor acknowledged the debt but failed to make payments, citing financial difficulties due to unpaid payments, lack of flat sales, and the impact of the
…The Respondent issued a Service Work Order…
Operational Creditor…