Sheth Fincap Services Private Limited, a financial creditor and registered NBFC, filed three separate petitions under Section 7 of the IBC, 2016, against three co-borrower corporate debtors: Takshashila Corporation LLP, Takshashila Developers Private Limited, and Takshashila Resicom Private Limited. The petitions sought to initiate Corporate Insolvency Resolution Process (CIRP) due to a default amount of Rs. 7,40,33,665/-. The financial facility of Rs. 11 crores was granted jointly to the corporate debtors via a loan agreement dated 15.03.2024, secured by personal guarantees from Mr. Kamlesh Gondalia and Mr. Parthil Gondalia, and a mortgage deed dated 26.03.2024. The date of default was stated as 15.05.2025, following the dishonour of a cheque for Rs. 18,56,250 and
…Petitions were filed under Section 7 of the IBC, 2016 by the financial creditor, Sheth Fincap Services Private Limited.
The financial creditor is a registered NBFC by RBI and was incorporated on 03.02.2025.
The corporate debtors are Takshashila Corporation LLP, Takshashila Developers Private Limited, and Takshashila Resicom Private Limited, identified as co-borrowers.
The petitions sought initiation of Corporate Insolvency Process against the corporate debtors for a default amount of Rs. 7,40,33,665/-.
The date of default is stated to be 15.05.2025.
The applicant granted a financial facility of Rs. 11 crores to the three corporate debtors jointly.
A loan agreement was duly executed on 15.03.2024, making the co-borrowers jointly and severally liable.
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Loan agreement executed…
Duly registered…
Sheth Fincap Services Private Limited, a financial creditor and registered NBFC, filed three separate petitions under Section 7 of the IBC, 2016, against three co-borrower corporate debtors: Takshashila Corporation LLP, Takshashila Developers Private Limited, and Takshashila Resicom Private Limited. The petitions sought to initiate Corporate Insolvency Resolution Process (CIRP) due to a default amount of Rs. 7,40,33,665/-. The financial facility of Rs. 11 crores was granted jointly to the corporate debtors via a loan agreement dated 15.03.2024, secured by personal guarantees from Mr. Kamlesh Gondalia and Mr. Parthil Gondalia, and a mortgage deed dated 26.03.2024. The date of default was stated as 15.05.2025, following the dishonour of a cheque for Rs. 18,56,250 and
…Petitions were filed under Section 7 of the IBC, 2016 by the financial creditor, Sheth Fincap Services Private Limited.
The financial creditor is a registered NBFC by RBI and was incorporated on 03.02.2025.
The corporate debtors are Takshashila Corporation LLP, Takshashila Developers Private Limited, and Takshashila Resicom Private Limited, identified as co-borrowers.
The petitions sought initiation of Corporate Insolvency Process against the corporate debtors for a default amount of Rs. 7,40,33,665/-.
The date of default is stated to be 15.05.2025.
The applicant granted a financial facility of Rs. 11 crores to the three corporate debtors jointly.
A loan agreement was duly executed on 15.03.2024, making the co-borrowers jointly and severally liable.
…Loan agreement executed…
Duly registered…