Shiva Asphaltic Products Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Atlas Constructions Private Limited, the Corporate Debtor, for an outstanding amount of Rs. 1,13,71,352 as of February 28, 2025.
Shiva Asphaltic Products Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Atlas Constructions Private Limited.
The outstanding amount claimed was Rs. 1,13,71,352 as of February 28, 2025.
The Operational Creditor claimed the last payment was made on May 10, 2022.
The application was filed on May 31, 2025.
The Operational Creditor relied on a letter dated June 17, 2024, as acknowledgment of debt.
The Operational Creditor sought exclusion of time spent in pre-institution mediation from August 3, 2024, to September 19, 2024.
The Corporate Debtor alleged quality issues with the supplied materials.
The Operational Creditor initiated Pre-Institution Mediation under Section 12A of the Commercial Courts Act, 2015.
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Operational Creditor states the last payment…
Corporate Debtor issued…
Shiva Asphaltic Products Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Atlas Constructions Private Limited, the Corporate Debtor, for an outstanding amount of Rs. 1,13,71,352 as of February 28, 2025.
Shiva Asphaltic Products Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Atlas Constructions Private Limited.
The outstanding amount claimed was Rs. 1,13,71,352 as of February 28, 2025.
The Operational Creditor claimed the last payment was made on May 10, 2022.
The application was filed on May 31, 2025.
The Operational Creditor relied on a letter dated June 17, 2024, as acknowledgment of debt.
The Operational Creditor sought exclusion of time spent in pre-institution mediation from August 3, 2024, to September 19, 2024.
The Corporate Debtor alleged quality issues with the supplied materials.
The Operational Creditor initiated Pre-Institution Mediation under Section 12A of the Commercial Courts Act, 2015.
…Operational Creditor states the last payment…
Corporate Debtor issued…