The case pertains to an application filed by Eternity Investment Services Private Limited, a financial creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate the insolvency resolution process against Blue Coast Infrastructure Development Private Limited, the respondent-corporate debtor. Eternity Investment Services Private Limited, as a Unit/Studio holder, had entered into an agreement with Blue Coast Infrastructure Development Private Limited for allotment of Studio/Unit No. 15 on leasehold basis in a commercial project. The financial creditor claimed default on the part of the corporate debtor in handing over possession and payment of assured returns. The petitioner had previously filed a similar petition, which was withdrawn with
…Eternity Investment Services Private Limited (the petitioner) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Blue Coast Infrastructure Development Private Limited (the respondent). The petitioner, as a financial creditor, had entered into an agreement with the respondent for allotment of Studio/Unit No. 15 on leasehold basis in a commercial project. The petitioner paid installments towards the consideration for the unit. The respondent failed to hand over possession of the unit within the agreed timeframe. The respondent also failed to pay the assured monthly returns as per the agreement. The petitioner had previously filed a similar petition, which was withdrawn
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The case pertains to an application filed by Eternity Investment Services Private Limited, a financial creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate the insolvency resolution process against Blue Coast Infrastructure Development Private Limited, the respondent-corporate debtor. Eternity Investment Services Private Limited, as a Unit/Studio holder, had entered into an agreement with Blue Coast Infrastructure Development Private Limited for allotment of Studio/Unit No. 15 on leasehold basis in a commercial project. The financial creditor claimed default on the part of the corporate debtor in handing over possession and payment of assured returns. The petitioner had previously filed a similar petition, which was withdrawn with
…Eternity Investment Services Private Limited (the petitioner) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Blue Coast Infrastructure Development Private Limited (the respondent). The petitioner, as a financial creditor, had entered into an agreement with the respondent for allotment of Studio/Unit No. 15 on leasehold basis in a commercial project. The petitioner paid installments towards the consideration for the unit. The respondent failed to hand over possession of the unit within the agreed timeframe. The respondent also failed to pay the assured monthly returns as per the agreement. The petitioner had previously filed a similar petition, which was withdrawn
…The petitioner…
The petitioner company…