The Corporate Debtor filed an application seeking dismissal of the Section 7 petition filed by the Financial Creditor, arguing that the default occurred during the period covered by Section 10A of the Insolvency and Bankruptcy Code, 2016, making the petition non-maintainable.
YES Bank Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Deserve Exim Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged a default of Rs. 888,94,94,865/-. This amount arose from term loans totaling Rs. 800,00,00,000/- advanced to two original borrowers, Radius & Deserve Builders LLP and Raghuleela Builders Pvt Ltd.
…Corporate Debtor executed two Deeds of…
Borrower 2 (Raghuleela…
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The Corporate Debtor filed an application seeking dismissal of the Section 7 petition filed by the Financial Creditor, arguing that the default occurred during the period covered by Section 10A of the Insolvency and Bankruptcy Code, 2016, making the petition non-maintainable.
YES Bank Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Deserve Exim Private Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged a default of Rs. 888,94,94,865/-. This amount arose from term loans totaling Rs. 800,00,00,000/- advanced to two original borrowers, Radius & Deserve Builders LLP and Raghuleela Builders Pvt Ltd.
…Corporate Debtor executed two Deeds of…
Borrower 2 (Raghuleela…
Sign in to view related legal provisions.