The case involves a Company Petition (IB)-324(MB)/2023 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Abhishek Ranganathan and others, who are financial creditors/homebuyers/petitioners, against M/s. Acme Realties Private Limited, the corporate debtor/respondent. The petitioners allege a default in handing over possession of flats/apartments in the real estate project "Boulevard Tower 4" and "Boulevard Tower 5". The Maharashtra Housing and Area Development Authority (MHADA) owns the land where the project is situated. MHADA had constructed chawls on the land in 1980 and later the occupants formed a society that decided to undertake redevelopment. The society invited bids from developers, and J.P. Infra (Mumbai) Pvt. Ltd. (JPL)
…The case originates from a petition filed by multiple homebuyers (financial creditors) against Acme Realties Private Limited (corporate debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The homebuyers allege that Acme Realties defaulted on its promise to hand over possession of their purchased flats/apartments in the "Boulevard Tower 4" and "Boulevard Tower 5" projects. MHADA owns the land, and the project involves redevelopment of old chawls. The occupants of the chawls formed a society that appointed J.P. Infra (Mumbai) Pvt. Ltd. (JPL) for redevelopment. Acme Realties, JPL, and Keemaya Developers Pvt. Ltd. entered into joint venture agreements. Acme Realties was responsible for constructing buildings for rehabilitation and
…Sign in to view the parties.
Corporate Debtor began marketing and taking…
Corporate Debtor began issuing letters of…
The case involves a Company Petition (IB)-324(MB)/2023 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Abhishek Ranganathan and others, who are financial creditors/homebuyers/petitioners, against M/s. Acme Realties Private Limited, the corporate debtor/respondent. The petitioners allege a default in handing over possession of flats/apartments in the real estate project "Boulevard Tower 4" and "Boulevard Tower 5". The Maharashtra Housing and Area Development Authority (MHADA) owns the land where the project is situated. MHADA had constructed chawls on the land in 1980 and later the occupants formed a society that decided to undertake redevelopment. The society invited bids from developers, and J.P. Infra (Mumbai) Pvt. Ltd. (JPL)
…The case originates from a petition filed by multiple homebuyers (financial creditors) against Acme Realties Private Limited (corporate debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The homebuyers allege that Acme Realties defaulted on its promise to hand over possession of their purchased flats/apartments in the "Boulevard Tower 4" and "Boulevard Tower 5" projects. MHADA owns the land, and the project involves redevelopment of old chawls. The occupants of the chawls formed a society that appointed J.P. Infra (Mumbai) Pvt. Ltd. (JPL) for redevelopment. Acme Realties, JPL, and Keemaya Developers Pvt. Ltd. entered into joint venture agreements. Acme Realties was responsible for constructing buildings for rehabilitation and
…Corporate Debtor began marketing and taking…
Corporate Debtor began issuing letters of…