The case originates from a Company Petition filed by Indiabulls Housing Finance Limited under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy Rules, 2019, seeking to initiate the Individual Insolvency Resolution Process (IRP) against Mr. Sanjay Chhabria, the Personal Guarantor. The petition arises from loan facilities extended to Raghuleela Infraventures Private Limited ('Corporate Debtor') by Indiabulls Housing Finance Limited. The Co-ordinate Bench appointed Mr. Prakul Thadi as the Resolution Professional and directed him to file a report under section 99 of the Code.
Indiabulls Housing Finance Limited filed a Company Petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Individual Insolvency Resolution Process against Mr. Sanjay Chhabria, who is the Personal Guarantor. The petition is based on loan facilities extended to Raghuleela Infraventures Private Limited ('Corporate Debtor'). In March 2017, the Corporate Debtor approached Indiabulls Housing Finance Limited for loan facilities amounting to INR 283 Crores. Indiabulls sanctioned two loans: Loan Amount No. S000239814 for INR 150,00,00,000/- and Loan Account No. S000239815 for INR 133,00,00,000/-, both dated March 14, 2017. The entire amount of Loan 1 was disbursed on March 30, 2017, and INR 131,40,00,000/- of Loan 2 was disbursed on March 23,
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Loan Agreement No.…
Loans of INR 150,00,00,0…
The case originates from a Company Petition filed by Indiabulls Housing Finance Limited under Section 95 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7(2) of the Insolvency and Bankruptcy Rules, 2019, seeking to initiate the Individual Insolvency Resolution Process (IRP) against Mr. Sanjay Chhabria, the Personal Guarantor. The petition arises from loan facilities extended to Raghuleela Infraventures Private Limited ('Corporate Debtor') by Indiabulls Housing Finance Limited. The Co-ordinate Bench appointed Mr. Prakul Thadi as the Resolution Professional and directed him to file a report under section 99 of the Code.
Indiabulls Housing Finance Limited filed a Company Petition under Section 95 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Individual Insolvency Resolution Process against Mr. Sanjay Chhabria, who is the Personal Guarantor. The petition is based on loan facilities extended to Raghuleela Infraventures Private Limited ('Corporate Debtor'). In March 2017, the Corporate Debtor approached Indiabulls Housing Finance Limited for loan facilities amounting to INR 283 Crores. Indiabulls sanctioned two loans: Loan Amount No. S000239814 for INR 150,00,00,000/- and Loan Account No. S000239815 for INR 133,00,00,000/-, both dated March 14, 2017. The entire amount of Loan 1 was disbursed on March 30, 2017, and INR 131,40,00,000/- of Loan 2 was disbursed on March 23,
…Loan Agreement No.…
Loans of INR 150,00,00,0…