The financial creditor filed an application under Section 7 of the IBC to initiate CIRP against the corporate debtor for an alleged financial debt arising from an advance given in 1997 for a residential project that was never started.
Mr. Saroj Kumar Poddar, the financial creditor, filed an application on August 25, 2021, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Growth Techno Projects Limited (GTPL), the corporate debtor. The corporate debtor, incorporated on January 16, 1985, is engaged in building and construction work.
…Petitioner gave an advance of Rs. 50,00,000 to…
The first default…
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The financial creditor filed an application under Section 7 of the IBC to initiate CIRP against the corporate debtor for an alleged financial debt arising from an advance given in 1997 for a residential project that was never started.
Mr. Saroj Kumar Poddar, the financial creditor, filed an application on August 25, 2021, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Growth Techno Projects Limited (GTPL), the corporate debtor. The corporate debtor, incorporated on January 16, 1985, is engaged in building and construction work.
…Petitioner gave an advance of Rs. 50,00,000 to…
The first default…
Sign in to view related legal provisions.