The case involves an Interlocutory Application (IA No. 62/2025) filed in a Company Petition (CP (IB) No. 60/BB/2024) under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of NCLT Rules, 2016. Cerebra Integrated Technologies Limited, the Corporate Debtor/Applicant, sought to implead Sunstar Realty Development Private Limited and Mr. Sunil Bhandari as Respondents in the main petition. The Financial Creditor, Manish Kumar Bharadwaj, had filed a Section 7 petition against the Corporate Debtor to initiate Corporate Insolvency Resolution Process (CIRP) for a payment default of Rs. 1,73,94,992/-. The Corporate Debtor argued that the loan was originally given by Sunstar Realty Development Private Limited (SRDL) and that SRDL and Mr. Sunil
…Manish Kumar Bharadwaj, the Financial Creditor and Proprietor of Bhardwaj Enterprises, filed a Section 7 petition (CP (IB) 59/BB/2024) against Cerebra Integrated Technologies Limited, the Corporate Debtor, to initiate CIRP for a payment default of Rs. 1,73,94,992/-. The Corporate Debtor sought to implead Sunstar Realty Development Private Limited (SRDL) and Mr. Sunil Bhandari as Respondents in the main petition, arguing that the loan was originally given by SRDL. During 2021-22, the Corporate Debtor sought to raise funds of Rs.200 Crores, facilitated by Mr. Sunil Bhandari of Sunstar Realty. SRDL arranged a loan of Rs.5,40,00,000 for the Corporate Debtor. The Corporate Debtor claims to have repaid Rs.7,46,69,150/- to SRDL through Mrs. Medha Hegde selling shares and
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Interlocutory Application (IA No. 62/2025)…
The Respondent/Financial Creditor filed its…
The case involves an Interlocutory Application (IA No. 62/2025) filed in a Company Petition (CP (IB) No. 60/BB/2024) under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of NCLT Rules, 2016. Cerebra Integrated Technologies Limited, the Corporate Debtor/Applicant, sought to implead Sunstar Realty Development Private Limited and Mr. Sunil Bhandari as Respondents in the main petition. The Financial Creditor, Manish Kumar Bharadwaj, had filed a Section 7 petition against the Corporate Debtor to initiate Corporate Insolvency Resolution Process (CIRP) for a payment default of Rs. 1,73,94,992/-. The Corporate Debtor argued that the loan was originally given by Sunstar Realty Development Private Limited (SRDL) and that SRDL and Mr. Sunil
…Manish Kumar Bharadwaj, the Financial Creditor and Proprietor of Bhardwaj Enterprises, filed a Section 7 petition (CP (IB) 59/BB/2024) against Cerebra Integrated Technologies Limited, the Corporate Debtor, to initiate CIRP for a payment default of Rs. 1,73,94,992/-. The Corporate Debtor sought to implead Sunstar Realty Development Private Limited (SRDL) and Mr. Sunil Bhandari as Respondents in the main petition, arguing that the loan was originally given by SRDL. During 2021-22, the Corporate Debtor sought to raise funds of Rs.200 Crores, facilitated by Mr. Sunil Bhandari of Sunstar Realty. SRDL arranged a loan of Rs.5,40,00,000 for the Corporate Debtor. The Corporate Debtor claims to have repaid Rs.7,46,69,150/- to SRDL through Mrs. Medha Hegde selling shares and
…Interlocutory Application (IA No. 62/2025)…
The Respondent/Financial Creditor filed its…