The case involves an application filed by M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) against M/s Gulls Realtors Private Limited under Rule 16(d) of the NCLT Rules, 2016. The applicant sought the transfer of C.P.(IB).No 124(CHE) of 2022 from NCLT BENCH-II of the Hon'ble Tribunal at Chennai to NCLT BENCH-I of Hon'ble Tribunal at Chennai. The applicant had sanctioned a loan to the respondent and other borrowers, who subsequently defaulted on repayments.
M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) filed an application against M/s Gulls Realtors Private Limited under Rule 16(d) of the NCLT Rules, 2016. The applicant sought the transfer of C.P.(IB).No 124(CHE) of 2022 from NCLT BENCH-II to NCLT BENCH-I in Chennai. The applicant had sanctioned a loan to the respondent and 18 other borrowers, evidenced by a sanction letter dated 2014-09-26. A loan agreement was executed on 2014-09-26. The financial creditor sanctioned Rs 20,00,00,000/- and disbursed Rs 19,80,00,000/- on 2014-09-30. The borrowers defaulted starting in 2015, and the account was declared an NPA on 2015-06-30. The applicant filed 19 petitions to initiate CIRP against the borrowers. The corporate
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The case involves an application filed by M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) against M/s Gulls Realtors Private Limited under Rule 16(d) of the NCLT Rules, 2016. The applicant sought the transfer of C.P.(IB).No 124(CHE) of 2022 from NCLT BENCH-II of the Hon'ble Tribunal at Chennai to NCLT BENCH-I of Hon'ble Tribunal at Chennai. The applicant had sanctioned a loan to the respondent and other borrowers, who subsequently defaulted on repayments.
M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) filed an application against M/s Gulls Realtors Private Limited under Rule 16(d) of the NCLT Rules, 2016. The applicant sought the transfer of C.P.(IB).No 124(CHE) of 2022 from NCLT BENCH-II to NCLT BENCH-I in Chennai. The applicant had sanctioned a loan to the respondent and 18 other borrowers, evidenced by a sanction letter dated 2014-09-26. A loan agreement was executed on 2014-09-26. The financial creditor sanctioned Rs 20,00,00,000/- and disbursed Rs 19,80,00,000/- on 2014-09-30. The borrowers defaulted starting in 2015, and the account was declared an NPA on 2015-06-30. The applicant filed 19 petitions to initiate CIRP against the borrowers. The corporate
…Applicant sanctioned a loan vide…
Borrowers j…
Sign in to view related legal provisions.