The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, against the rejection of claims by the Resolution Professional. The applicant, M/S Hindustan Steelworks Construction Limited (HSCL), an operational creditor, sought the tribunal's direction to the Resolution Professional to consider its claim. HSCL had entered into a contract with the Corporate Debtor, M/S Zillion Infraprojects Pvt. Ltd., for a construction project in Dehradun. Due to alleged breaches by the Corporate Debtor, HSCL terminated the agreements and engaged an alternative agency to complete the work. HSCL then filed a claim for Rs. 24,48,18,289/- along with interest. The Resolution
…M/S Hindustan Steelworks Construction Limited (HSCL), an operational creditor, entered into a contract with M/S Zillion Infraprojects Pvt. Ltd. (Corporate Debtor) for a group housing project in Dehradun at a total cost of Rs. 124.06 Crores. HSCL invited EOI for construction of 2 packages dated 20.05.2015 for construction for a group housing project for an estimated cost of Rs. 32.19 Crore and 80.48 Crore each. HSCL awarded the work to the Corporate Debtor by issuing the Letter of Intent on 24.09.2015 for construction of the project (Package 1 and 2) and entered into two separate agreements dated 09.11.2015. Due to alleged breach of terms of agreement on the part of the Corporate Debtor, HSCL terminated both the agreements dated 09.11.2015 on 20.09.2017. After
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Applicant invited EOI…
Operational Creditor awarded the work to the…
The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016, against the rejection of claims by the Resolution Professional. The applicant, M/S Hindustan Steelworks Construction Limited (HSCL), an operational creditor, sought the tribunal's direction to the Resolution Professional to consider its claim. HSCL had entered into a contract with the Corporate Debtor, M/S Zillion Infraprojects Pvt. Ltd., for a construction project in Dehradun. Due to alleged breaches by the Corporate Debtor, HSCL terminated the agreements and engaged an alternative agency to complete the work. HSCL then filed a claim for Rs. 24,48,18,289/- along with interest. The Resolution
…M/S Hindustan Steelworks Construction Limited (HSCL), an operational creditor, entered into a contract with M/S Zillion Infraprojects Pvt. Ltd. (Corporate Debtor) for a group housing project in Dehradun at a total cost of Rs. 124.06 Crores. HSCL invited EOI for construction of 2 packages dated 20.05.2015 for construction for a group housing project for an estimated cost of Rs. 32.19 Crore and 80.48 Crore each. HSCL awarded the work to the Corporate Debtor by issuing the Letter of Intent on 24.09.2015 for construction of the project (Package 1 and 2) and entered into two separate agreements dated 09.11.2015. Due to alleged breach of terms of agreement on the part of the Corporate Debtor, HSCL terminated both the agreements dated 09.11.2015 on 20.09.2017. After
…Applicant invited EOI…
Operational Creditor awarded the work to the…