M/S Shristi Construction, an operational creditor, filed an application under Section 9 of the IBC to initiate CIRP against Nadia Constructions Private Limited.

The operational creditor and corporate debtor entered into a development agreement on 18th January, 2010 for construction of five residential towers.

The operational creditor claims that it completed the construction work and raised invoices, which were acknowledged by the corporate debtor.

The corporate debtor made part payments against the bills raised, with the last payment of Rs. 2 lakhs made on 20.02.2020.

The operational creditor served a demand notice under Section 8 of the IBC on 15th February, 2022, for a total debt of Rs. 4,43,65,135/-.

M/S Shristi Construction, an operational creditor, filed an application under Section 9 of the IBC to initiate CIRP against Nadia Constructions Private Limited.

The operational creditor and corporate debtor entered into a development agreement on 18th January, 2010 for construction of five residential towers.

The operational creditor claims that it completed the construction work and raised invoices, which were acknowledged by the corporate debtor.

The corporate debtor made part payments against the bills raised, with the last payment of Rs. 2 lakhs made on 20.02.2020.

The operational creditor served a demand notice under Section 8 of the IBC on 15th February, 2022, for a total debt of Rs. 4,43,65,135/-.