Supreme Court of India
Srinivasa Reddy Velagala v. Sravanthi Infratech Pvt. Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the aforesaid part of this judgment) arising from non-payment of amount due under the payment schedule, remained unpaid since February 2011 and February 2012 respectively.
Judgment, page 43
In brief
The appellant corporate debtor awarded the respondent an EPC contract dated 09.02.2011 worth Rs. 827 crore for a 225 MW gas-based power station, payable in milestones. The respondent achieved the first three milestones and submitted its Billing Break-up, but the appellant paid only Rs. 50.15 crore of the Rs. 165.4 crore then due; the appellant acknowledged the liability in communications of 05.01.2012 and 03.02.2012.…
Authorities it was built on
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- 2020 Babulal Vardharji Gurjar v. Veer Gurjar Aluminium Industries Pvt. Ltd. & Anr.
- 2019 Vashdeo R Bhojwani v. Abhyudaya Co-operative Bank Ltd & Anr.
- 2021 Asset Reconstruction Company (india) Limited v. Bishal Jaiswal & Anr.
- 1968 Boothalinga Agencies v. V. T. C. Poriaswami Nadar
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