The case involves an application filed by four applicants seeking to initiate the insolvency process against M/s AMR Infrastructures Ltd. The applicants claimed to be financial creditors based on agreements for assured returns on properties booked in projects developed by the respondent. The applicants alleged default in payment of these assured returns and sought to trigger the corporate insolvency resolution process under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.
Four applicants, including Nikhil Mehta & Sons (HUF) and others, filed an application to initiate the insolvency process against M/s AMR Infrastructures Ltd. The applicants claimed to be 'Financial Creditors' under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicants had booked properties in projects developed by AMR Infrastructure and were promised 'assured returns' on their investments. Applicant No.1 is a HUF with Shri Nikhil Mehta as its Karta. Applicant No.2 is the wife of Shri Nikhil Mehta, who is also Applicant No.3. Applicant No.4 is Mrs. Praveen Mehta, mother of Applicant No.3. The applicants alleged that AMR Infrastructure defaulted on the payment of these 'assured returns'. Specifically, Applicants No.3 and 4 booked office spaces
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Applicants No.3 and 4 executed a Memorandum of…
Applicants substituted their booking in the…
The case involves an application filed by four applicants seeking to initiate the insolvency process against M/s AMR Infrastructures Ltd. The applicants claimed to be financial creditors based on agreements for assured returns on properties booked in projects developed by the respondent. The applicants alleged default in payment of these assured returns and sought to trigger the corporate insolvency resolution process under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.
Four applicants, including Nikhil Mehta & Sons (HUF) and others, filed an application to initiate the insolvency process against M/s AMR Infrastructures Ltd. The applicants claimed to be 'Financial Creditors' under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicants had booked properties in projects developed by AMR Infrastructure and were promised 'assured returns' on their investments. Applicant No.1 is a HUF with Shri Nikhil Mehta as its Karta. Applicant No.2 is the wife of Shri Nikhil Mehta, who is also Applicant No.3. Applicant No.4 is Mrs. Praveen Mehta, mother of Applicant No.3. The applicants alleged that AMR Infrastructure defaulted on the payment of these 'assured returns'. Specifically, Applicants No.3 and 4 booked office spaces
…Applicants No.3 and 4 executed a Memorandum of…
Applicants substituted their booking in the…