The Interlocutory Application IA 1387/MB-V/2022 was filed by G. S. Constructions, through its proprietor Mr. Sushil Uttarwar, under Section 60(5) of the IBC, 2016, seeking reliefs related to the Corporate Insolvency Resolution Process (CIRP) of E & G Global Estates Limited. G. S. Constructions, along with others, are investors and shareholders of E & G Global Estates Limited, holding approximately 48% of the company's shares. They had infused funds into the company based on an MoU dated 10.12.2018, where they paid Rs.75 lakh to SIDBI towards part payment of a loan. SIDBI later filed a Company Petition No. 2995 of 2019 under Section 7 of the Code against the Corporate Debtor, claiming a default of Rs.3,85,15,033/-. The NCLT admitted the petition into CIRP on
…G. S. Constructions, along with others, are investors and shareholders of E & G Global Estates Limited, the Corporate Debtor, holding approximately 48% of the company's shares. An MoU dated 10.12.2018 was entered into between the parties, whereby G. S. Constro & Infra Pvt. Ltd. & Ors paid Rs.75 lakh to SIDBI, towards the part payment of the loan amount. SIDBI filed a Company Petition No. 2995 of 2019 under Section 7 of the Code against the Corporate Debtor, claiming a default of Rs.3,85,15,033/-. The NCLT admitted the petition into CIRP on 24.06.2020. G. S. Constructions' claim as a financial creditor was rejected by the Interim Resolution Professional (IRP). G. S. Constructions filed IA 1148 of 2020, which was dismissed on 03.12.2020. They then filed an
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The Interlocutory Application IA 1387/MB-V/2022 was filed by G. S. Constructions, through its proprietor Mr. Sushil Uttarwar, under Section 60(5) of the IBC, 2016, seeking reliefs related to the Corporate Insolvency Resolution Process (CIRP) of E & G Global Estates Limited. G. S. Constructions, along with others, are investors and shareholders of E & G Global Estates Limited, holding approximately 48% of the company's shares. They had infused funds into the company based on an MoU dated 10.12.2018, where they paid Rs.75 lakh to SIDBI towards part payment of a loan. SIDBI later filed a Company Petition No. 2995 of 2019 under Section 7 of the Code against the Corporate Debtor, claiming a default of Rs.3,85,15,033/-. The NCLT admitted the petition into CIRP on
…G. S. Constructions, along with others, are investors and shareholders of E & G Global Estates Limited, the Corporate Debtor, holding approximately 48% of the company's shares. An MoU dated 10.12.2018 was entered into between the parties, whereby G. S. Constro & Infra Pvt. Ltd. & Ors paid Rs.75 lakh to SIDBI, towards the part payment of the loan amount. SIDBI filed a Company Petition No. 2995 of 2019 under Section 7 of the Code against the Corporate Debtor, claiming a default of Rs.3,85,15,033/-. The NCLT admitted the petition into CIRP on 24.06.2020. G. S. Constructions' claim as a financial creditor was rejected by the Interim Resolution Professional (IRP). G. S. Constructions filed IA 1148 of 2020, which was dismissed on 03.12.2020. They then filed an
…An MoU was entered into between G. S. Constro…
A completion Certificate…