C. P. Arora Engineers Contractors Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Millennium City Expressways Pvt. Ltd. for non-payment of outstanding dues amounting to Rs. 1,47,62,844.20.
C. P. Arora Engineers Contractors Pvt. Ltd. is the Applicant/Operational Creditor.
Millennium City Expressways Pvt. Ltd. is the Respondent/Corporate Debtor.
The Operational Creditor claimed an unpaid operational debt of Rs. 1,47,62,844.20 plus interest.
The Corporate Debtor awarded road construction and repair work to the Operational Creditor via a Letter of Intent (LOI).
Reliance General Insurance Co. Ltd. was to make payments on behalf of the Corporate Debtor.
The Operational Creditor raised five invoices totaling Rs. 19,35,50,851.20, out of which Rs. 17,87,88,007 was paid.
The Corporate Debtor claimed the Operational Creditor failed to execute the work according to required standards.
The Operational Creditor issued a statutory notice under Section 8(1) of the IBC.
…Sign in to view the parties.
Corporate Debtor issued Letter of Intent to…
Reliance General Insurance Co. Ltd. indicated…
C. P. Arora Engineers Contractors Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Millennium City Expressways Pvt. Ltd. for non-payment of outstanding dues amounting to Rs. 1,47,62,844.20.
C. P. Arora Engineers Contractors Pvt. Ltd. is the Applicant/Operational Creditor.
Millennium City Expressways Pvt. Ltd. is the Respondent/Corporate Debtor.
The Operational Creditor claimed an unpaid operational debt of Rs. 1,47,62,844.20 plus interest.
The Corporate Debtor awarded road construction and repair work to the Operational Creditor via a Letter of Intent (LOI).
Reliance General Insurance Co. Ltd. was to make payments on behalf of the Corporate Debtor.
The Operational Creditor raised five invoices totaling Rs. 19,35,50,851.20, out of which Rs. 17,87,88,007 was paid.
The Corporate Debtor claimed the Operational Creditor failed to execute the work according to required standards.
The Operational Creditor issued a statutory notice under Section 8(1) of the IBC.
…Corporate Debtor issued Letter of Intent to…
Reliance General Insurance Co. Ltd. indicated…