The case involves an application by IL&FS Financial Services Limited, the Financial Creditor, against Rajendra K. Bhuta, the Liquidator of Guruashish Constructions Private Limited, the Corporate Debtor. The Financial Creditor sought the Tribunal's intervention to set aside the Liquidator's decision dated 18.11.2020, which partially rejected their claim. The Corporate Debtor was admitted into CIRP on 24.07.2017, and subsequently liquidated on 04.09.2020, with the Respondent appointed as the Liquidator. The Applicant had entered into a loan agreement with the Corporate Debtor on 17.11.2011, granting a loan of Rs. 215,00,00,000/-. The Applicant also entered into a loan agreement dated 30.06.2015 with Serveall Construction Private Limited, a group company of the
…IL&FS Financial Services Limited (Applicant) filed a claim against Guruashish Constructions Private Limited (Corporate Debtor) which is under liquidation. The Corporate Debtor was admitted into CIRP on 24.07.2017 and subsequently liquidated on 04.09.2020. The Applicant had extended loans to the Corporate Debtor and its group company, Serveall Construction Private Limited, under loan agreements dated 17.11.2011 and 30.06.2015 respectively. The Corporate Debtor also provided a corporate guarantee for the loan to Serveall. The Applicant filed proof of claims for both loans. The Liquidator sought clarification on the interest rates. The Liquidator partially rejected a portion of the claim amounting to Rs. 3,38,67,858/- from the total claim of Rs. 10,86,23,598/-,
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The case involves an application by IL&FS Financial Services Limited, the Financial Creditor, against Rajendra K. Bhuta, the Liquidator of Guruashish Constructions Private Limited, the Corporate Debtor. The Financial Creditor sought the Tribunal's intervention to set aside the Liquidator's decision dated 18.11.2020, which partially rejected their claim. The Corporate Debtor was admitted into CIRP on 24.07.2017, and subsequently liquidated on 04.09.2020, with the Respondent appointed as the Liquidator. The Applicant had entered into a loan agreement with the Corporate Debtor on 17.11.2011, granting a loan of Rs. 215,00,00,000/-. The Applicant also entered into a loan agreement dated 30.06.2015 with Serveall Construction Private Limited, a group company of the
…IL&FS Financial Services Limited (Applicant) filed a claim against Guruashish Constructions Private Limited (Corporate Debtor) which is under liquidation. The Corporate Debtor was admitted into CIRP on 24.07.2017 and subsequently liquidated on 04.09.2020. The Applicant had extended loans to the Corporate Debtor and its group company, Serveall Construction Private Limited, under loan agreements dated 17.11.2011 and 30.06.2015 respectively. The Corporate Debtor also provided a corporate guarantee for the loan to Serveall. The Applicant filed proof of claims for both loans. The Liquidator sought clarification on the interest rates. The Liquidator partially rejected a portion of the claim amounting to Rs. 3,38,67,858/- from the total claim of Rs. 10,86,23,598/-,
…Applicant entered into a…
Applicant entered into a loan agreement with…