The case involves a company petition filed by Great White Technologies Pvt Ltd (Petitioner/Financial Creditor) against Vijay Suraksha Realty LLP (Respondent/Corporate Debtor). The petition was filed due to the Respondent's alleged failure to make a payment of Rs. 17,50,00,000 by 31/07/2019, which the Petitioner claimed was a financial debt. The Respondent denied the claim. The parties entered into an agreement on 19/08/2017, granting the Petitioner a first right to acquire saleable FSI area. Disputes arose regarding the terms of this agreement and subsequent payments.
Great White Technologies Pvt Ltd (Petitioner) filed a company petition against Vijay Suraksha Realty LLP (Respondent) claiming a financial debt of Rs. 17,50,00,000 due to the Respondent's failure to make payment by 31/07/2019. The claim stemmed from an agreement dated 19/08/2017, where the Respondent granted the Petitioner a first right to acquire saleable FSI area. The Respondent denied the debt. The parties then entered into consent terms dated 09.12.2020, agreeing to settle the dispute and withdraw the company petition. The consent terms included details of prior agreements, including an agreement dated 23/07/2014 between Great White Technologies and Vijay Grihnirman Pvt. Ltd. (VGPL), where VGPL granted the Petitioner a first right to acquire 66,000 sq ft of FSI.
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The case involves a company petition filed by Great White Technologies Pvt Ltd (Petitioner/Financial Creditor) against Vijay Suraksha Realty LLP (Respondent/Corporate Debtor). The petition was filed due to the Respondent's alleged failure to make a payment of Rs. 17,50,00,000 by 31/07/2019, which the Petitioner claimed was a financial debt. The Respondent denied the claim. The parties entered into an agreement on 19/08/2017, granting the Petitioner a first right to acquire saleable FSI area. Disputes arose regarding the terms of this agreement and subsequent payments.
Great White Technologies Pvt Ltd (Petitioner) filed a company petition against Vijay Suraksha Realty LLP (Respondent) claiming a financial debt of Rs. 17,50,00,000 due to the Respondent's failure to make payment by 31/07/2019. The claim stemmed from an agreement dated 19/08/2017, where the Respondent granted the Petitioner a first right to acquire saleable FSI area. The Respondent denied the debt. The parties then entered into consent terms dated 09.12.2020, agreeing to settle the dispute and withdraw the company petition. The consent terms included details of prior agreements, including an agreement dated 23/07/2014 between Great White Technologies and Vijay Grihnirman Pvt. Ltd. (VGPL), where VGPL granted the Petitioner a first right to acquire 66,000 sq ft of FSI.
…Parties filed consent…
Court dismisse…
Sign in to view related legal provisions.