Shree Steel Associates (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Roadway Solutions India Infra Limited (Corporate Debtor) due to an unpaid operational debt. The Applicant claimed a total default amount of Rs. 2,35,82,157.67/-, including principal and interest, arising from the supply of various steel materials. The Corporate Debtor denied the debt, asserting no contractual relationship, no proof of delivery, and alleging that the cheques issued were security for a different transaction with a third party, Mr. D.P. Sehgal, and were misused.
An Application bearing C.P. (IB) No.1006/MB/2025 was filed on 29.08.2025 by Shree Steel Associates (Applicant/Operational Creditor) under Section 9 of the IBC.
The application was filed against Roadway Solutions India Infra Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP).
Shree Steel Associates is engaged in the business of trading, supplying, and exporting metal products for construction and manufacturing industries.
Roadway Solutions India Infra Limited is engaged in the business of building constructions and civil engineering.
The Applicant proposed Mr. Prashant Agrawal to act as Interim Resolution Professional (IRP), but his Authorization for Assignment (AFA) was found invalid on the IBBI website.
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The Corporate Debtor was awarded the contract…
Applicant began…
Shree Steel Associates (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Roadway Solutions India Infra Limited (Corporate Debtor) due to an unpaid operational debt. The Applicant claimed a total default amount of Rs. 2,35,82,157.67/-, including principal and interest, arising from the supply of various steel materials. The Corporate Debtor denied the debt, asserting no contractual relationship, no proof of delivery, and alleging that the cheques issued were security for a different transaction with a third party, Mr. D.P. Sehgal, and were misused.
An Application bearing C.P. (IB) No.1006/MB/2025 was filed on 29.08.2025 by Shree Steel Associates (Applicant/Operational Creditor) under Section 9 of the IBC.
The application was filed against Roadway Solutions India Infra Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP).
Shree Steel Associates is engaged in the business of trading, supplying, and exporting metal products for construction and manufacturing industries.
Roadway Solutions India Infra Limited is engaged in the business of building constructions and civil engineering.
The Applicant proposed Mr. Prashant Agrawal to act as Interim Resolution Professional (IRP), but his Authorization for Assignment (AFA) was found invalid on the IBBI website.
…The Corporate Debtor was awarded the contract…
Applicant began…