The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Sh. Shankar Khandelwal, through his attorney holder Mr. Tikam Khandelwal, seeking to initiate Corporate Insolvency Process against A. Gangwal Real Estate LLP. The financial creditor claimed that the corporate debtor defaulted on a total debt of ₹18,84,74,920/-, with the total amount claimed in default being ₹38,73,94,501/- (including principal and interest). The date of default was stated as 17.04.2017.
Sh. Shankar Khandelwal, through his attorney holder Mr. Tikam Khandelwal, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Process against A. Gangwal Real Estate LLP. The financial creditor claimed a total debt of ₹18,84,74,920/- with a default amount of ₹38,73,94,501/-, including principal and interest, as of 17.04.2017. The corporate debtor issued six post-dated cheques totaling ₹6,07,00,000/- against an unsecured loan, which were dishonored in April 2017. The corporate debtor argued that no proof of the advanced sum was provided and the balance due was only ₹5,16,55,842/- as per the 2015-16 balance sheet, claiming repayment to M/s Guman Builders and Developers Private Limited. The financial creditor
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Shankar Khandelwal executed a special power of…
A. Gangwal Real Estate…
The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Sh. Shankar Khandelwal, through his attorney holder Mr. Tikam Khandelwal, seeking to initiate Corporate Insolvency Process against A. Gangwal Real Estate LLP. The financial creditor claimed that the corporate debtor defaulted on a total debt of ₹18,84,74,920/-, with the total amount claimed in default being ₹38,73,94,501/- (including principal and interest). The date of default was stated as 17.04.2017.
Sh. Shankar Khandelwal, through his attorney holder Mr. Tikam Khandelwal, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Process against A. Gangwal Real Estate LLP. The financial creditor claimed a total debt of ₹18,84,74,920/- with a default amount of ₹38,73,94,501/-, including principal and interest, as of 17.04.2017. The corporate debtor issued six post-dated cheques totaling ₹6,07,00,000/- against an unsecured loan, which were dishonored in April 2017. The corporate debtor argued that no proof of the advanced sum was provided and the balance due was only ₹5,16,55,842/- as per the 2015-16 balance sheet, claiming repayment to M/s Guman Builders and Developers Private Limited. The financial creditor
…Shankar Khandelwal executed a special power of…
A. Gangwal Real Estate…