The petition was filed for initiation of the Corporate Insolvency Resolution Process against the Respondent Corporate Debtor based on the petitioner's unpaid financial claims. The Financial Creditor had booked two residential apartments in a project developed by the Corporate Debtor under the name 'Universal Aura'. The petitioner made a payment of Rs. 90,00,000, which was acknowledged by the Corporate Debtor. Allotment letters were issued on 02.04.2014. Due to construction delays, the Corporate Debtor agreed to repay Rs. 98,00,000. Two cheques were tendered, but the Corporate Debtor asked the applicant to withhold presenting them until June 2017 due to financial constraints. The cheques were returned unpaid on 28.06.2017, leading to proceedings under Section 138 of the
…Pallavi Joshi Bakhru, the Financial Creditor, booked two residential apartments in a project called 'Universal Aura' developed by Universal Buildwell Pvt. Ltd., the Corporate Debtor. She paid Rs. 90,00,000, which was acknowledged. Allotment letters were issued on April 2, 2014. Due to construction delays, the Corporate Debtor agreed to repay Rs. 98,00,000. Two cheques were issued but later dishonored on June 28, 2017, after the Corporate Debtor requested the applicant to withhold presenting them until June 2017 due to financial constraints. This dishonor led to proceedings under Section 138 of the Negotiable Instruments Act. The Financial Creditor then sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
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Corporate Debtor issued…
Builder buyer's…
The petition was filed for initiation of the Corporate Insolvency Resolution Process against the Respondent Corporate Debtor based on the petitioner's unpaid financial claims. The Financial Creditor had booked two residential apartments in a project developed by the Corporate Debtor under the name 'Universal Aura'. The petitioner made a payment of Rs. 90,00,000, which was acknowledged by the Corporate Debtor. Allotment letters were issued on 02.04.2014. Due to construction delays, the Corporate Debtor agreed to repay Rs. 98,00,000. Two cheques were tendered, but the Corporate Debtor asked the applicant to withhold presenting them until June 2017 due to financial constraints. The cheques were returned unpaid on 28.06.2017, leading to proceedings under Section 138 of the
…Pallavi Joshi Bakhru, the Financial Creditor, booked two residential apartments in a project called 'Universal Aura' developed by Universal Buildwell Pvt. Ltd., the Corporate Debtor. She paid Rs. 90,00,000, which was acknowledged. Allotment letters were issued on April 2, 2014. Due to construction delays, the Corporate Debtor agreed to repay Rs. 98,00,000. Two cheques were issued but later dishonored on June 28, 2017, after the Corporate Debtor requested the applicant to withhold presenting them until June 2017 due to financial constraints. This dishonor led to proceedings under Section 138 of the Negotiable Instruments Act. The Financial Creditor then sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
Corporate Debtor issued…
Builder buyer's…