The case involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Silbhadar Vyapaar Private Limited (Financial Creditor) against Vurupa Trading Private Limited (Corporate Debtor/Guarantor) to initiate the Corporate Insolvency Resolution Process (CIRP). The claim is based on a corporate guarantee provided by Vurupa Trading Private Limited for a debt owed by Kordash Handlers and Logistics Private Limited.
Silbhadar Vyapaar Private Limited filed a petition under Section 7 of the I&B Code 2016 to initiate CIRP against Vurupa Trading Private Limited.
The petition was filed on 22.05.2025.
The claim is for a total outstanding of INR 68,74,79,669/-.
The Date of Default is 30.04.2024, when the demand notice was issued to the CD and Corporate Guarantee was invoked.
Somerset Infra Projects Pvt. Ltd. had disbursed a sum of INR 50,00,00,000/- to Winter Lands Pvt. Ltd. for the purpose of sourcing land.
Pursuant to an Assignment Agreement dated 20.03.2020, Somerset Infra Projects Pvt. Ltd. assigned the aforesaid debt of INR 63,89,81,010/- to the Financial Creditor.
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Demand notice was…
The petition under…
The case involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Silbhadar Vyapaar Private Limited (Financial Creditor) against Vurupa Trading Private Limited (Corporate Debtor/Guarantor) to initiate the Corporate Insolvency Resolution Process (CIRP). The claim is based on a corporate guarantee provided by Vurupa Trading Private Limited for a debt owed by Kordash Handlers and Logistics Private Limited.
Silbhadar Vyapaar Private Limited filed a petition under Section 7 of the I&B Code 2016 to initiate CIRP against Vurupa Trading Private Limited.
The petition was filed on 22.05.2025.
The claim is for a total outstanding of INR 68,74,79,669/-.
The Date of Default is 30.04.2024, when the demand notice was issued to the CD and Corporate Guarantee was invoked.
Somerset Infra Projects Pvt. Ltd. had disbursed a sum of INR 50,00,00,000/- to Winter Lands Pvt. Ltd. for the purpose of sourcing land.
Pursuant to an Assignment Agreement dated 20.03.2020, Somerset Infra Projects Pvt. Ltd. assigned the aforesaid debt of INR 63,89,81,010/- to the Financial Creditor.
…Demand notice was…
The petition under…