The case originates from a petition transferred from the Bombay High Court. Initially, a petition was filed under Ordinary Original Civil Jurisdiction on 2016-07-13, seeking the winding up of the respondent under sections 433(e), 434, and 439 of the Companies Act, 1956, due to a debt of ₹7,95,106/- as of 2015-03-31, along with 18% p.a. interest. This petition was then transferred to the NCLT Bench on 2016-12-07. The Operational Creditor then submitted Form No.5 under Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, claiming the same debt amount.
Keystone Realtors Private Limited, the Petitioner and Operational Creditor, claimed that Five K Properties Private Limited, the Respondent and Corporate Debtor, defaulted on a debt of ₹7,95,106/- as of 2015-03-31, with interest accruing from 2015-04-01 at 18% p.a. The debt arose from unpaid maintenance and other charges for Flats Nos. 1401 and 1402 in the building 'La Solita', which the Corporate Debtor purchased, used, and occupied. The Petitioner had acquired rights in the land through the merger of its subsidiary, Bricklayer Constructions Private Limited. The Petitioner sent demand notices to the Corporate Debtor on 2016-04-09 and 2016-06-16, but the Corporate Debtor remained unresponsive and did not dispute the claim. The Petitioner expressed concern that the
…Sign in to view the parties.
A petition was filed under Ordinary Original…
The debt amount was…
The case originates from a petition transferred from the Bombay High Court. Initially, a petition was filed under Ordinary Original Civil Jurisdiction on 2016-07-13, seeking the winding up of the respondent under sections 433(e), 434, and 439 of the Companies Act, 1956, due to a debt of ₹7,95,106/- as of 2015-03-31, along with 18% p.a. interest. This petition was then transferred to the NCLT Bench on 2016-12-07. The Operational Creditor then submitted Form No.5 under Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, claiming the same debt amount.
Keystone Realtors Private Limited, the Petitioner and Operational Creditor, claimed that Five K Properties Private Limited, the Respondent and Corporate Debtor, defaulted on a debt of ₹7,95,106/- as of 2015-03-31, with interest accruing from 2015-04-01 at 18% p.a. The debt arose from unpaid maintenance and other charges for Flats Nos. 1401 and 1402 in the building 'La Solita', which the Corporate Debtor purchased, used, and occupied. The Petitioner had acquired rights in the land through the merger of its subsidiary, Bricklayer Constructions Private Limited. The Petitioner sent demand notices to the Corporate Debtor on 2016-04-09 and 2016-06-16, but the Corporate Debtor remained unresponsive and did not dispute the claim. The Petitioner expressed concern that the
…A petition was filed under Ordinary Original…
The debt amount was…