The case involves an application filed by Vistra ITCL (India) Limited, the Financial Creditor, against Ambience Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached INDIAREIT Fund Scheme - IV in 2011, representing that it had won a bid to acquire three land parcels in Gurgaon. Subsequently, the Financial Creditor, acting as trustee to INDIAREIT Fund Scheme - IV, executed a Share Subscription cum Shareholders Agreement on 2011-05-28, agreeing to invest Rs. 134,95,61,430/- to fund a residential and commercial project by Ambience Projects And Infrastructure Private Limited, a Special Purpose Vehicle (SPV) of the Corporate Debtor. Disputes arose in 2015 regarding additional funding demands. A
…Vistra ITCL (India) Limited, acting as a trustee to INDIAREIT Fund Scheme - IV, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Ambience Private Limited. In 2011, Ambience Private Limited approached INDIAREIT Fund Scheme - IV, stating it had won a bid to acquire three land parcels in Gurgaon. On 2011-05-28, a Share Subscription cum Shareholders Agreement was executed, with the Financial Creditor agreeing to invest Rs. 134,95,61,430/- to fund a project by Ambience Projects And Infrastructure Private Limited, the SPV of Ambience Private Limited. Disputes arose in 2015 regarding additional funding. A settlement agreement was reached on 2017-04-07, requiring specific payments by Ambience Private Limited. Ambience Private Limited
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The Financial Creditor executed a Share…
Disputes arose between the Financial…
The case involves an application filed by Vistra ITCL (India) Limited, the Financial Creditor, against Ambience Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached INDIAREIT Fund Scheme - IV in 2011, representing that it had won a bid to acquire three land parcels in Gurgaon. Subsequently, the Financial Creditor, acting as trustee to INDIAREIT Fund Scheme - IV, executed a Share Subscription cum Shareholders Agreement on 2011-05-28, agreeing to invest Rs. 134,95,61,430/- to fund a residential and commercial project by Ambience Projects And Infrastructure Private Limited, a Special Purpose Vehicle (SPV) of the Corporate Debtor. Disputes arose in 2015 regarding additional funding demands. A
…Vistra ITCL (India) Limited, acting as a trustee to INDIAREIT Fund Scheme - IV, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Ambience Private Limited. In 2011, Ambience Private Limited approached INDIAREIT Fund Scheme - IV, stating it had won a bid to acquire three land parcels in Gurgaon. On 2011-05-28, a Share Subscription cum Shareholders Agreement was executed, with the Financial Creditor agreeing to invest Rs. 134,95,61,430/- to fund a project by Ambience Projects And Infrastructure Private Limited, the SPV of Ambience Private Limited. Disputes arose in 2015 regarding additional funding. A settlement agreement was reached on 2017-04-07, requiring specific payments by Ambience Private Limited. Ambience Private Limited
…The Financial Creditor executed a Share…
Disputes arose between the Financial…