The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. NHDPL South Private Limited (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra And Trade Pvt.Ltd (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 150,39,14,084/-. The corporate debtor admitted to owing the money but cited financial difficulties as the reason for non-payment.
M/s. NHDPL South Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra And Trade Pvt.Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 150,39,14,084/-. The Corporate Debtor's name was changed multiple times, from Somerest Infra Projects Pvt.Ltd to East Mond Agri and Infra Pvt.Ltd, and finally to East Mond Infra and Trade Pvt.Ltd. A Memorandum of Understanding (MOU) was entered into between the parties on 28.03.2014, where the Corporate Debtor was to provide conveyance of land to the Operational Creditor. The Operational Creditor remitted Rs.
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Memorandum of Understanding (MOU) entered…
Operational Creditor…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. NHDPL South Private Limited (Operational Creditor) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra And Trade Pvt.Ltd (Corporate Debtor). The operational creditor claimed that the corporate debtor defaulted on a payment of Rs. 150,39,14,084/-. The corporate debtor admitted to owing the money but cited financial difficulties as the reason for non-payment.
M/s. NHDPL South Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra And Trade Pvt.Ltd (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 150,39,14,084/-. The Corporate Debtor's name was changed multiple times, from Somerest Infra Projects Pvt.Ltd to East Mond Agri and Infra Pvt.Ltd, and finally to East Mond Infra and Trade Pvt.Ltd. A Memorandum of Understanding (MOU) was entered into between the parties on 28.03.2014, where the Corporate Debtor was to provide conveyance of land to the Operational Creditor. The Operational Creditor remitted Rs.
…Memorandum of Understanding (MOU) entered…
Operational Creditor…