M/s. Renu Proptech Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Red Topaz Real Estate Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 23.08.2019, and Mr. Vekas Kumar Garg was appointed as the Interim Resolution Professional (IRP). The applicants, Abhishek Garg, Anita Garg, Neha Garg, and Parul Mittal, filed IA No. 2142/2020 seeking to be included as Financial Creditors in a class, arguing they invested in the corporate debtor's project 'NINEX MALL' in 2015 and were allotted units. A Memorandum of Understanding (MoU) dated 10.06.2019 and an addendum dated 12.06.2019 were executed, but the applicants' claims were not treated as 'Financial Creditor in Class' by the Resolution
…In 2015, the Corporate Debtor, M/s. Red Topaz Real Estate Pvt. Ltd., approached Abhishek Garg, Anita Garg, Neha Garg, and Parul Mittal (the Applicants) to invest in its 'NINEX MALL' project in Gurugram. The Applicants invested money and were allotted various units. A Memorandum of Understanding (MoU) dated 10.06.2019, and an addendum dated 12.06.2019, were executed. The Applicants claim they were promised service apartments in lieu of the originally allotted units, but no allotment letters were issued for the service apartments. The Financial Creditor, M/s Renu Proptech Pvt. Ltd., initiated CIRP against the Corporate Debtor, and the application was admitted on 23.08.2019. The Resolution Professional (RP) did not treat the Applicants as 'Financial Creditor in Class',
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The Corporate Debtor approached the…
The Corporate Debtor…
M/s. Renu Proptech Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Red Topaz Real Estate Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 23.08.2019, and Mr. Vekas Kumar Garg was appointed as the Interim Resolution Professional (IRP). The applicants, Abhishek Garg, Anita Garg, Neha Garg, and Parul Mittal, filed IA No. 2142/2020 seeking to be included as Financial Creditors in a class, arguing they invested in the corporate debtor's project 'NINEX MALL' in 2015 and were allotted units. A Memorandum of Understanding (MoU) dated 10.06.2019 and an addendum dated 12.06.2019 were executed, but the applicants' claims were not treated as 'Financial Creditor in Class' by the Resolution
…In 2015, the Corporate Debtor, M/s. Red Topaz Real Estate Pvt. Ltd., approached Abhishek Garg, Anita Garg, Neha Garg, and Parul Mittal (the Applicants) to invest in its 'NINEX MALL' project in Gurugram. The Applicants invested money and were allotted various units. A Memorandum of Understanding (MoU) dated 10.06.2019, and an addendum dated 12.06.2019, were executed. The Applicants claim they were promised service apartments in lieu of the originally allotted units, but no allotment letters were issued for the service apartments. The Financial Creditor, M/s Renu Proptech Pvt. Ltd., initiated CIRP against the Corporate Debtor, and the application was admitted on 23.08.2019. The Resolution Professional (RP) did not treat the Applicants as 'Financial Creditor in Class',
…The Corporate Debtor approached the…
The Corporate Debtor…