NPGC Limited (Appellant) filed an application challenging the Liquidator's rejection of its claims against D C Industrial Plant Services Private Limited (Corporate Debtor). The claims arose from two contracts where the Corporate Debtor allegedly failed to complete work. The Corporate Debtor was undergoing CIRP initiated by Indian Overseas Bank and subsequently entered liquidation, with Mr. Ram Ratan Modi appointed as Liquidator. The NCLAT had previously remanded the case for a de-novo hearing, noting that the NCLT had erred in rejecting verifiable claims.
NPGC Limited (Appellant) awarded two contracts (Contract No. CS-0370-162C-2-FC-COA-0015 and Contract No. CS-0370-162C-2-SC-COA-0016) to D C Industrial Plant Services Private Limited (Corporate Debtor) on 14.05.2013.
The Corporate Debtor was engaged for design, engineering, procurement, supply, and installation services for the Nabinagar Super Thermal Power Project.
The Appellant alleged that the Corporate Debtor failed to complete a substantial portion of the supply and installation works and sought extensions, with the last extension granted till 31.12.2019.
The Appellant claimed a total principal sum of Rs. 71,33,65,128/- from the Corporate Debtor, including advance outstanding, liquidated damages, and estimated cost of completion.
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NPGC Limited awarded…
NCLT admitted a Section 7 application by…
NPGC Limited (Appellant) filed an application challenging the Liquidator's rejection of its claims against D C Industrial Plant Services Private Limited (Corporate Debtor). The claims arose from two contracts where the Corporate Debtor allegedly failed to complete work. The Corporate Debtor was undergoing CIRP initiated by Indian Overseas Bank and subsequently entered liquidation, with Mr. Ram Ratan Modi appointed as Liquidator. The NCLAT had previously remanded the case for a de-novo hearing, noting that the NCLT had erred in rejecting verifiable claims.
NPGC Limited (Appellant) awarded two contracts (Contract No. CS-0370-162C-2-FC-COA-0015 and Contract No. CS-0370-162C-2-SC-COA-0016) to D C Industrial Plant Services Private Limited (Corporate Debtor) on 14.05.2013.
The Corporate Debtor was engaged for design, engineering, procurement, supply, and installation services for the Nabinagar Super Thermal Power Project.
The Appellant alleged that the Corporate Debtor failed to complete a substantial portion of the supply and installation works and sought extensions, with the last extension granted till 31.12.2019.
The Appellant claimed a total principal sum of Rs. 71,33,65,128/- from the Corporate Debtor, including advance outstanding, liquidated damages, and estimated cost of completion.
…NPGC Limited awarded…
NCLT admitted a Section 7 application by…