Earth Gracia Buildcon Private Limited, acting through its Resolution Professional (RP) Manisha Rawat, filed CA/565/C-III/ND/2019 in CP/401/IB/2017 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a direction to the Resolution Professional of the Respondent/Corporate Debtor, Earth Infrastructure Limited, to recognize the applicant's claim as a 'Financial Debt' under Section 5(8) of the I&B Code, 2016. The applicant claimed to have advanced INR 16,82,17,052/- to the respondent, which is also under CIRP. The RP rejected the claim due to the absence of a loan agreement.
Earth Gracia Buildcon Private Limited (Applicant), under CIRP, claimed to have advanced INR 16,82,17,052/- to Earth Infrastructure Limited (Corporate Debtor/Respondent), also under CIRP. The Applicant sought recognition as a 'Financial Creditor' under Section 5(8) of the I&B Code, 2016. The RP of the Corporate Debtor rejected the claim due to the absence of a loan agreement. The Applicant filed Form 'C' dated 08.04.2019, claiming INR 20,78,13,695/-, which was rejected on 25.07.2019. The Applicant contended its claim was based on transactions with five banks. The RP argued the application was baseless, and the Applicant failed to provide a loan agreement. The RP also stated the Applicant and Corporate Debtor are group companies with common directors. The Applicant's
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CP/401/IB/2017 filed…
Applicant filed requisite Form 'C' dated…
Earth Gracia Buildcon Private Limited, acting through its Resolution Professional (RP) Manisha Rawat, filed CA/565/C-III/ND/2019 in CP/401/IB/2017 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a direction to the Resolution Professional of the Respondent/Corporate Debtor, Earth Infrastructure Limited, to recognize the applicant's claim as a 'Financial Debt' under Section 5(8) of the I&B Code, 2016. The applicant claimed to have advanced INR 16,82,17,052/- to the respondent, which is also under CIRP. The RP rejected the claim due to the absence of a loan agreement.
Earth Gracia Buildcon Private Limited (Applicant), under CIRP, claimed to have advanced INR 16,82,17,052/- to Earth Infrastructure Limited (Corporate Debtor/Respondent), also under CIRP. The Applicant sought recognition as a 'Financial Creditor' under Section 5(8) of the I&B Code, 2016. The RP of the Corporate Debtor rejected the claim due to the absence of a loan agreement. The Applicant filed Form 'C' dated 08.04.2019, claiming INR 20,78,13,695/-, which was rejected on 25.07.2019. The Applicant contended its claim was based on transactions with five banks. The RP argued the application was baseless, and the Applicant failed to provide a loan agreement. The RP also stated the Applicant and Corporate Debtor are group companies with common directors. The Applicant's
…CP/401/IB/2017 filed…
Applicant filed requisite Form 'C' dated…