BALAJI ENTERPRISES Vs. GAMMON INDIA LTD

JUDGEMENT

(1.) Balaji Enterprises, represented by its sole Proprietrix Mrs. Amita Dubey, filed this Company Petition for initiation of Corporate Insolvency Resolution Process under section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) read with Rule 6 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules 2016, saying that M/s. Gammon India Ltd., the Corporate Debtor, herein defaulted on 29.11.2016 in making payment of Rs. 65,80,536/- (inclusive of interest charged @ 18% from 20.07.2013 to 20.03.2017) in respect of sub-contract work done at Ennore and also defaulted on 28.10.2015 in making another payment of Rs. 93,72,026/- (inclusive of interest @ 18% from October 2015 till March 2017) in respect of hire charges of scaffolding materials for construction site at New India Hotel & Resort project. Bangalore.

(2.) The claim of the Operational Creditor is of two-fold, one is in respect of payment for this sub-contract work done at Ennore and another is in respect of hire charges for scaffolding materials for construction site at New India Hotel & Resort project. Bangalore.

(3.) In respect of the first claim i.e. sub-contract executed at Ennore: