The case involves 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 Individual Insolvency Resolution Process (IRP) against Mr. Sanjay Chhabria, the Personal Guarantor. Raghuleela Infraventures Private Limited ("Corporate Debtor") approached Indiabulls Housing Finance Limited (“IHFL/Financial Creditor") seeking total loan facilities for an amount of INR 283 Crores. The Financial Creditor sanctioned the loans to the Corporate Debtor.
Indiabulls Housing Finance Limited filed a Company Petition against Mr. Sanjay Chhabria, who is the personal guarantor to the applicant, under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition seeks to initiate Individual Insolvency Resolution Process (IRP) against Mr. Chhabria. The applicant claims a total outstanding amount of Rs. 146,68,83,834/-. Raghuleela Infraventures Private Limited ("Corporate Debtor") had approached Indiabulls Housing Finance Limited (“IHFL/Financial Creditor") seeking loan facilities. The applicant sanctioned two loans: Loan Amount No. S000239814, dated March 14, 2017, for INR 150,00,00,000/-, and Loan Account No. S000239815, dated March 14, 2017, for INR 133,00,00,000/-. A Deed of Personal Guarantee was
…Sign in to view the parties.
Loan Agreement dated March 14, 2017 for an…
Loans were sanctioned…
The case involves 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 Individual Insolvency Resolution Process (IRP) against Mr. Sanjay Chhabria, the Personal Guarantor. Raghuleela Infraventures Private Limited ("Corporate Debtor") approached Indiabulls Housing Finance Limited (“IHFL/Financial Creditor") seeking total loan facilities for an amount of INR 283 Crores. The Financial Creditor sanctioned the loans to the Corporate Debtor.
Indiabulls Housing Finance Limited filed a Company Petition against Mr. Sanjay Chhabria, who is the personal guarantor to the applicant, under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition seeks to initiate Individual Insolvency Resolution Process (IRP) against Mr. Chhabria. The applicant claims a total outstanding amount of Rs. 146,68,83,834/-. Raghuleela Infraventures Private Limited ("Corporate Debtor") had approached Indiabulls Housing Finance Limited (“IHFL/Financial Creditor") seeking loan facilities. The applicant sanctioned two loans: Loan Amount No. S000239814, dated March 14, 2017, for INR 150,00,00,000/-, and Loan Account No. S000239815, dated March 14, 2017, for INR 133,00,00,000/-. A Deed of Personal Guarantee was
…Loan Agreement dated March 14, 2017 for an…
Loans were sanctioned…