Shakuntlam Securities Private Limited, a Non-Banking Financial Company, filed an application 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 Qutab Realcon Private Limited. The application sought to declare a moratorium and appoint an Interim Resolution Professional (IRP) due to a default in repayment of Rs. 1,44,15,000.

Shakuntlam Securities Private Limited, a Non-Banking Financial Company, filed an application 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 Qutab Realcon Private Limited. The application sought to declare a moratorium and appoint an Interim Resolution Professional (IRP) due to a default in repayment of Rs. 1,44,15,000.