The case involves an Interlocutory Application (IA No. 62/2025) filed in connection with a Company Petition (CP (IB) No. 60/BB/2024) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant, Cerebra Integrated Technologies Limited (Corporate Debtor), sought to implead Sunstar Realty Development Private Limited and Mr. Sunil Bhandari as respondents in the main petition. The financial creditor, Manish Kumar Bharadwaj, initiated the CIRP against the corporate debtor for a default of Rs. 1,73,94,992/-. The corporate debtor claimed that the financial creditor fraudulently assigned the loan to recover the said amount, which was originally loaned by Sunstar Realty Development Private Limited (SRDL). The financial creditor opposed the impleadment,
…Manish Kumar Bharadwaj, the Proprietor of Bhardwaj Enterprises, filed a Section 7 petition (CP (IB) 59/BB/2024) against Cerebra Integrated Technologies Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP) for a default of Rs. 1,73,94,992/-. The Corporate Debtor sought to implead Sunstar Realty Development Private Limited (SRDL) and Mr. Sunil Bhandari in the main petition. During 2021-22, the Corporate Debtor wanted to raise Rs. 200 Crores for business operations. Mr. Sunil Bhandari, Managing Director and CFO of Sunstar Realty Development Private Limited, facilitated a loan of Rs. 5,40,00,000 from SRDL to the Corporate Debtor. The mode of repayment was not finalized. Mr. Bhandari demanded immediate repayment with 50% annual interest and
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Interlocutory Application (IA No. 62/2025)…
The Financial Creditor (Respondent) filed its…
The case involves an Interlocutory Application (IA No. 62/2025) filed in connection with a Company Petition (CP (IB) No. 60/BB/2024) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant, Cerebra Integrated Technologies Limited (Corporate Debtor), sought to implead Sunstar Realty Development Private Limited and Mr. Sunil Bhandari as respondents in the main petition. The financial creditor, Manish Kumar Bharadwaj, initiated the CIRP against the corporate debtor for a default of Rs. 1,73,94,992/-. The corporate debtor claimed that the financial creditor fraudulently assigned the loan to recover the said amount, which was originally loaned by Sunstar Realty Development Private Limited (SRDL). The financial creditor opposed the impleadment,
…Manish Kumar Bharadwaj, the Proprietor of Bhardwaj Enterprises, filed a Section 7 petition (CP (IB) 59/BB/2024) against Cerebra Integrated Technologies Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP) for a default of Rs. 1,73,94,992/-. The Corporate Debtor sought to implead Sunstar Realty Development Private Limited (SRDL) and Mr. Sunil Bhandari in the main petition. During 2021-22, the Corporate Debtor wanted to raise Rs. 200 Crores for business operations. Mr. Sunil Bhandari, Managing Director and CFO of Sunstar Realty Development Private Limited, facilitated a loan of Rs. 5,40,00,000 from SRDL to the Corporate Debtor. The mode of repayment was not finalized. Mr. Bhandari demanded immediate repayment with 50% annual interest and
…Interlocutory Application (IA No. 62/2025)…
The Financial Creditor (Respondent) filed its…