Baij Nath Ram Nath (India) Private Limited, the Operational Creditor (OC), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Trivenimudrai Projects Limited, the Corporate Debtor (CD), due to an alleged default of Rs. 2,11,15,169/-. The claim arises from the supply of construction-aid materials on hire basis.
Baij Nath Ram Nath (India) Private Limited (BNRN) filed a petition under Section 9 of the IBC to initiate CIRP against Trivenimudrai Projects Limited (TMPL) for a default of Rs. 2,11,15,169/-.
BNRN supplied construction materials to Rajkeshari Projects Limited (RKPL) on a hire basis.
RKPL placed two hire work orders with BNRN.
RKPL failed to return the hired materials and defaulted on payments.
BNRN, being an MSME, approached the MSME Facilitation Council, but the proceedings were unsuccessful.
TMPL informed BNRN that the materials were utilized exclusively by TMPL.
A tripartite MOU-Cum-Accounts Settlement Agreement was executed between BNRN, TMPL, and RKPL.
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Company Petition No.…
The last date of default…
Baij Nath Ram Nath (India) Private Limited, the Operational Creditor (OC), filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Trivenimudrai Projects Limited, the Corporate Debtor (CD), due to an alleged default of Rs. 2,11,15,169/-. The claim arises from the supply of construction-aid materials on hire basis.
Baij Nath Ram Nath (India) Private Limited (BNRN) filed a petition under Section 9 of the IBC to initiate CIRP against Trivenimudrai Projects Limited (TMPL) for a default of Rs. 2,11,15,169/-.
BNRN supplied construction materials to Rajkeshari Projects Limited (RKPL) on a hire basis.
RKPL placed two hire work orders with BNRN.
RKPL failed to return the hired materials and defaulted on payments.
BNRN, being an MSME, approached the MSME Facilitation Council, but the proceedings were unsuccessful.
TMPL informed BNRN that the materials were utilized exclusively by TMPL.
A tripartite MOU-Cum-Accounts Settlement Agreement was executed between BNRN, TMPL, and RKPL.
…Company Petition No.…
The last date of default…