The case pertains to an application filed for the initiation of the Corporate Insolvency Resolution Process (CIRP) against Kindle Developers Pvt. Ltd. The petitioner, Amit Kumar Malik, claims to be a Financial Creditor. The petitioner booked a two-bedroom apartment in a project developed by the Corporate Debtor, Subh Kamna Lords in Sector 79-Noida, and paid Rs. 20,77,531, which was acknowledged by the Corporate Debtor. An allotment letter was issued. However, construction did not commence, and the Noida Authority cancelled the project. The petitioner sought a refund, and the Corporate Debtor issued four cheques towards the refund. These cheques were not deposited, as the Corporate Debtor undertook to liquidate the liability through RTGS. The RTGS payments were not
…Amit Kumar Malik booked a two-bedroom apartment in the Subh Kamna Lords project developed by Kindle Developers Pvt. Ltd. in Sector 79, Noida. He paid Rs. 20,77,531, which was acknowledged by the Corporate Debtor, and an allotment letter was issued. Due to the lack of construction, the Noida Authority cancelled the project. Malik requested a refund, and Kindle Developers issued four cheques (nos. 010178 to 010181) to return the payment. These cheques were not deposited because the company promised to make the payment through RTGS. The RTGS transfer never happened, and the cheques remained unpaid. As a result, Malik filed a petition under Section 7 of the IBC, 2016, claiming to be a Financial Creditor seeking initiation of the Corporate Insolvency Resolution Process
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Order delivered on 9.3.2018 regarding the…
Amit Kumar Malik booked a two-bedroom…
The case pertains to an application filed for the initiation of the Corporate Insolvency Resolution Process (CIRP) against Kindle Developers Pvt. Ltd. The petitioner, Amit Kumar Malik, claims to be a Financial Creditor. The petitioner booked a two-bedroom apartment in a project developed by the Corporate Debtor, Subh Kamna Lords in Sector 79-Noida, and paid Rs. 20,77,531, which was acknowledged by the Corporate Debtor. An allotment letter was issued. However, construction did not commence, and the Noida Authority cancelled the project. The petitioner sought a refund, and the Corporate Debtor issued four cheques towards the refund. These cheques were not deposited, as the Corporate Debtor undertook to liquidate the liability through RTGS. The RTGS payments were not
…Amit Kumar Malik booked a two-bedroom apartment in the Subh Kamna Lords project developed by Kindle Developers Pvt. Ltd. in Sector 79, Noida. He paid Rs. 20,77,531, which was acknowledged by the Corporate Debtor, and an allotment letter was issued. Due to the lack of construction, the Noida Authority cancelled the project. Malik requested a refund, and Kindle Developers issued four cheques (nos. 010178 to 010181) to return the payment. These cheques were not deposited because the company promised to make the payment through RTGS. The RTGS transfer never happened, and the cheques remained unpaid. As a result, Malik filed a petition under Section 7 of the IBC, 2016, claiming to be a Financial Creditor seeking initiation of the Corporate Insolvency Resolution Process
…Order delivered on 9.3.2018 regarding the…
Amit Kumar Malik booked a two-bedroom…