BRICK2WALL INFRATECH PRIVATE LIMITED (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against TIRUPATI BUILD-CON PRIVATE LIMITED (Corporate Debtor). The Operational Creditor supplied Bitumen VG-40 worth Rs. 2,23,90,500/-, with Rs. 1,39,84,279/- remaining due. The Corporate Debtor issued post-dated cheques totaling Rs. 1,50,00,000/-, which were dishonored due to insufficient funds. A demand notice was issued by the Operational Creditor, but the Corporate Debtor failed to pay, claiming a pre-existing dispute regarding the mandatory source approval for Bitumen VG-40.
BRICK2WALL INFRATECH PRIVATE LIMITED (Operational Creditor) supplied Bitumen VG-40 to TIRUPATI BUILD-CON PRIVATE LIMITED (Corporate Debtor) for Rs. 2,23,90,500/- based on purchase orders dated 10.03.2025.
Eight invoices were raised between 11.03.2025 and 30.03.2025, against which Rs. 1,39,84,279/- remains due.
The Corporate Debtor issued three post-dated cheques dated 07.03.2025, totaling Rs. 1,50,00,000/-, which were dishonored due to insufficient funds.
A Circular dated 23.08.2023 by the Ministry of Road and Transport and Highways mandated source approval for Bitumin VG-40.
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Ministry of Road and Transport and Highways…
Corporate Debtor issued three post-dated…
BRICK2WALL INFRATECH PRIVATE LIMITED (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against TIRUPATI BUILD-CON PRIVATE LIMITED (Corporate Debtor). The Operational Creditor supplied Bitumen VG-40 worth Rs. 2,23,90,500/-, with Rs. 1,39,84,279/- remaining due. The Corporate Debtor issued post-dated cheques totaling Rs. 1,50,00,000/-, which were dishonored due to insufficient funds. A demand notice was issued by the Operational Creditor, but the Corporate Debtor failed to pay, claiming a pre-existing dispute regarding the mandatory source approval for Bitumen VG-40.
BRICK2WALL INFRATECH PRIVATE LIMITED (Operational Creditor) supplied Bitumen VG-40 to TIRUPATI BUILD-CON PRIVATE LIMITED (Corporate Debtor) for Rs. 2,23,90,500/- based on purchase orders dated 10.03.2025.
Eight invoices were raised between 11.03.2025 and 30.03.2025, against which Rs. 1,39,84,279/- remains due.
The Corporate Debtor issued three post-dated cheques dated 07.03.2025, totaling Rs. 1,50,00,000/-, which were dishonored due to insufficient funds.
A Circular dated 23.08.2023 by the Ministry of Road and Transport and Highways mandated source approval for Bitumin VG-40.
…Ministry of Road and Transport and Highways…
Corporate Debtor issued three post-dated…