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 under Section 7 of the Insolvency and Bankruptcy Code (IBC), based on assured returns promised on investments in commercial and residential properties. The applicants alleged default in payment of these assured returns and sought to trigger the corporate insolvency resolution process. The respondent, AMR Infrastructure, is a registered company involved in real estate development.
Four applicants filed an application to initiate insolvency proceedings against M/s AMR Infrastructures Ltd, claiming to be financial creditors based on promised 'assured returns' on property 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 application was filed through Power of Attorney holder Shri Suresh Mehta. The applicants booked office spaces and a residential flat in projects developed by AMR Infrastructure. Memoranda of Understanding (MOUs) were executed, promising 'assured returns' until possession. The respondent allegedly defaulted on these payments, and cheques issued were dishonored. The
…Sign in to view the parties.
Applicants No.3 and 4 executed Memorandum of…
Applicants No.2 and 3 executed Memorandum of…
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 under Section 7 of the Insolvency and Bankruptcy Code (IBC), based on assured returns promised on investments in commercial and residential properties. The applicants alleged default in payment of these assured returns and sought to trigger the corporate insolvency resolution process. The respondent, AMR Infrastructure, is a registered company involved in real estate development.
Four applicants filed an application to initiate insolvency proceedings against M/s AMR Infrastructures Ltd, claiming to be financial creditors based on promised 'assured returns' on property 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 application was filed through Power of Attorney holder Shri Suresh Mehta. The applicants booked office spaces and a residential flat in projects developed by AMR Infrastructure. Memoranda of Understanding (MOUs) were executed, promising 'assured returns' until possession. The respondent allegedly defaulted on these payments, and cheques issued were dishonored. The
…Applicants No.3 and 4 executed Memorandum of…
Applicants No.2 and 3 executed Memorandum of…