Kanchan Rajmal Jain, a financial creditor, filed a petition (CP 3741/2018) under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Lodha Crown Buildmart Private Limited, the corporate debtor, to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed on 27.09.2018. The petitioner claimed a default of ₹20,44,336/- since 31.12.2016, based on registered Agreements to Sell dated 20.3.2012 & 4.6.2014, receipts issued by the Corporate Debtor confirming payments, and various communications. The petitioner alleged delays in possession of a flat booked with the corporate debtor, leading to a claim for compensation.
Kanchan Rajmal Jain filed a petition under Section 7 of the I&B Code against Lodha Crown Buildmart Private Limited, claiming a default of ₹20,44,336/- since 31.12.2016. The claim arose from agreements to sell for a flat, where the petitioner alleged delays in possession and sought compensation. The petitioner relied on agreements dated 20.3.2012 and 4.6.2014, receipts confirming payments, and communications. The corporate debtor reduced the floor construction plan due to government clearance issues, leading to cancellation of the first agreement and subsequent agreements dated 4.6.2015 and 8.3.2016. The fitout date was postponed from 31.12.2015 to 31.12.2016. The petitioner claimed ₹24,50,000/- as compensation for the delay. The respondent offered possession on
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Kanchan Rajmal Jain, a financial creditor, filed a petition (CP 3741/2018) under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Lodha Crown Buildmart Private Limited, the corporate debtor, to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed on 27.09.2018. The petitioner claimed a default of ₹20,44,336/- since 31.12.2016, based on registered Agreements to Sell dated 20.3.2012 & 4.6.2014, receipts issued by the Corporate Debtor confirming payments, and various communications. The petitioner alleged delays in possession of a flat booked with the corporate debtor, leading to a claim for compensation.
Kanchan Rajmal Jain filed a petition under Section 7 of the I&B Code against Lodha Crown Buildmart Private Limited, claiming a default of ₹20,44,336/- since 31.12.2016. The claim arose from agreements to sell for a flat, where the petitioner alleged delays in possession and sought compensation. The petitioner relied on agreements dated 20.3.2012 and 4.6.2014, receipts confirming payments, and communications. The corporate debtor reduced the floor construction plan due to government clearance issues, leading to cancellation of the first agreement and subsequent agreements dated 4.6.2015 and 8.3.2016. The fitout date was postponed from 31.12.2015 to 31.12.2016. The petitioner claimed ₹24,50,000/- as compensation for the delay. The respondent offered possession on
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Another agreement to…