The case involves an application filed by Mr. Amit Joshi & Others, representing homebuyers as financial creditors, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Gayatri Infra Planners Pvt. Ltd, the corporate debtor. The application cites a total financial default of Rs. 25,13,10,207. The corporate debtor was incorporated on 16/12/2011. The application was filed on 16.06.2021, alleging default to 90 financial creditors. The corporate debtor was to complete construction within 40 months from the date of the allotment agreement with a 6-month grace period. The corporate debtor has filed IA-946/2023 seeking adjournment due to settlement talks.
Mr. Amit Joshi & Others, representing homebuyers, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Gayatri Infra Planners Pvt. Ltd. The corporate debtor was incorporated on 16/12/2011. The application was filed on 16.06.2021, citing a total financial default of Rs. 25,13,10,207 to 90 financial creditors. The project was to be completed within 40 months from the date of booking with a 6-month extension. The corporate debtor defaulted in completing construction and delivering possession. The corporate debtor argued that the claims were time-barred and cited force majeure due to government regulations and the COVID-19 pandemic. The application was filed on behalf of 113 allottees. The default amount towards
…Sign in to view the parties.
Gayatri Infra…
The application under…
The case involves an application filed by Mr. Amit Joshi & Others, representing homebuyers as financial creditors, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Gayatri Infra Planners Pvt. Ltd, the corporate debtor. The application cites a total financial default of Rs. 25,13,10,207. The corporate debtor was incorporated on 16/12/2011. The application was filed on 16.06.2021, alleging default to 90 financial creditors. The corporate debtor was to complete construction within 40 months from the date of the allotment agreement with a 6-month grace period. The corporate debtor has filed IA-946/2023 seeking adjournment due to settlement talks.
Mr. Amit Joshi & Others, representing homebuyers, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Gayatri Infra Planners Pvt. Ltd. The corporate debtor was incorporated on 16/12/2011. The application was filed on 16.06.2021, citing a total financial default of Rs. 25,13,10,207 to 90 financial creditors. The project was to be completed within 40 months from the date of booking with a 6-month extension. The corporate debtor defaulted in completing construction and delivering possession. The corporate debtor argued that the claims were time-barred and cited force majeure due to government regulations and the COVID-19 pandemic. The application was filed on behalf of 113 allottees. The default amount towards
…Gayatri Infra…
The application under…