Ample Infrastructure Pvt. Ltd. (the Applicant) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Intellicity Business Park Pvt. Ltd. (the Respondent) for a claim of Rs. 2,10,14,570/-. The Applicant and the Respondent entered into two Builder Buyer Agreements (BBAs) dated 17.04.2013 and 03.10.2013, whereby the Applicant purchased units No. A-46 and A-12, Block A, respectively, each admeasuring 1765 sq. ft. The total sale consideration for each unit was Rs. 1,08,42,950/-. Both BBAs stipulated that possession would be handed over within 4 years from the date of signing the agreement. On 25.07.2017, the Respondent informed the Applicant that the unit number A-46 had been

Ample Infrastructure Pvt. Ltd. (the Applicant) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Intellicity Business Park Pvt. Ltd. (the Respondent) for a claim of Rs. 2,10,14,570/-. The Applicant and the Respondent entered into two Builder Buyer Agreements (BBAs) dated 17.04.2013 and 03.10.2013, whereby the Applicant purchased units No. A-46 and A-12, Block A, respectively, each admeasuring 1765 sq. ft. The total sale consideration for each unit was Rs. 1,08,42,950/-. Both BBAs stipulated that possession would be handed over within 4 years from the date of signing the agreement. On 25.07.2017, the Respondent informed the Applicant that the unit number A-46 had been