The application was filed by Orris Projects Private Limited, the Operational Creditor, on 2022-02-12 under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against GNEX Housing Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on clearing an outstanding amount of Rs. 3,52,00,000/- along with penal interest. The Corporate Debtor approached the Operational Creditor representing itself as a Land Aggregator and induced the Operational Creditor to avail professional services for acquiring land parcels. The payment was originally made by The Thyme Land and Housing Pvt. Ltd. (TLHPL) to GNEX Housing Private Limited, and TLHPL later amalgamated with

The application was filed by Orris Projects Private Limited, the Operational Creditor, on 2022-02-12 under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against GNEX Housing Private Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on clearing an outstanding amount of Rs. 3,52,00,000/- along with penal interest. The Corporate Debtor approached the Operational Creditor representing itself as a Land Aggregator and induced the Operational Creditor to avail professional services for acquiring land parcels. The payment was originally made by The Thyme Land and Housing Pvt. Ltd. (TLHPL) to GNEX Housing Private Limited, and TLHPL later amalgamated with