Hybrid Financial Services Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking reliefs related to a property dispute with Anandram Developers Private Limited. Hybrid Financial Services had extended credit facilities to Ravishankar Industries Private Limited, which led to a Memorandum of Understanding where Ravishankar Industries agreed to convey a property to Hybrid Financial Services. A Sale Deed was executed, conveying an undivided share of land to Hybrid Financial Services. Subsequently, Anandram Developers entered into a Joint Venture Agreement with Konark Civil Constructions, allotting built-up area to Hybrid Financial Services. Due to non-approval of building plans, Anandram Developers re-allotted the space.
…Hybrid Financial Services Ltd. (formerly Mafatlal Finance Company Limited) extended credit facilities of Rs.1,50,10,000/- to Ravishankar Industries Private Limited against plant and machinery. Due to the inability to repay, a Memorandum of Understanding (MoU) was entered on 2001-11-30, where Ravishankar Industries agreed to convey property to Hybrid Financial Services. A Sale Deed was executed on 2001-12-12, conveying 2120 sq. ft. of undivided land to Hybrid Financial Services. Anandram Developers Private Limited (Corporate Debtor) entered into a Joint Venture Agreement with Konark Civil Constructions Private Limited. Hybrid Financial Services was allotted 5300 sq.ft. in 'Anandram Enclave' on the eighth floor, as per a letter dated 2003-04-24. Due to non-approval of
…Sign in to view the parties.
Ravishankar Industries agreed to convey…
Sale Deed executed,…
Hybrid Financial Services Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking reliefs related to a property dispute with Anandram Developers Private Limited. Hybrid Financial Services had extended credit facilities to Ravishankar Industries Private Limited, which led to a Memorandum of Understanding where Ravishankar Industries agreed to convey a property to Hybrid Financial Services. A Sale Deed was executed, conveying an undivided share of land to Hybrid Financial Services. Subsequently, Anandram Developers entered into a Joint Venture Agreement with Konark Civil Constructions, allotting built-up area to Hybrid Financial Services. Due to non-approval of building plans, Anandram Developers re-allotted the space.
…Hybrid Financial Services Ltd. (formerly Mafatlal Finance Company Limited) extended credit facilities of Rs.1,50,10,000/- to Ravishankar Industries Private Limited against plant and machinery. Due to the inability to repay, a Memorandum of Understanding (MoU) was entered on 2001-11-30, where Ravishankar Industries agreed to convey property to Hybrid Financial Services. A Sale Deed was executed on 2001-12-12, conveying 2120 sq. ft. of undivided land to Hybrid Financial Services. Anandram Developers Private Limited (Corporate Debtor) entered into a Joint Venture Agreement with Konark Civil Constructions Private Limited. Hybrid Financial Services was allotted 5300 sq.ft. in 'Anandram Enclave' on the eighth floor, as per a letter dated 2003-04-24. Due to non-approval of
…Ravishankar Industries agreed to convey…
Sale Deed executed,…