The case pertains to a Company Petition filed by Kaliber Associates Private Limited ('Applicant') through its liquidator Mr. Mohan Lal Jain under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against J.R. Modi Associates Limited (‘Corporate Debtor') due to default in repayment of a financial debt. The applicant had disbursed Rs. 29,05,00,000/- to the Corporate Debtor, out of which Rs. 9,05,00,000/- remained unpaid as of 31.03.2019. The Corporate Debtor had previously faced CIRP initiation, which was set aside by the NCLAT, remanding the matter for fresh consideration after the Corporate Debtor filed a reply.
Kaliber Associates Private Limited, undergoing liquidation, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against J.R. Modi Associates Limited, the Corporate Debtor. The applicant, through its liquidator Mr. Mohan Lal Jain, claimed that it had advanced a total sum of Rs. 29,05,00,000/- to the Corporate Debtor as an advance against property. The Corporate Debtor made certain payments, but Rs. 9,05,00,000/- remained outstanding as of 31.03.2019. The Corporate Debtor's registered office is in New Delhi. The Corporate Debtor had previously faced CIRP initiation, which was set aside by the NCLAT due to procedural issues regarding the filing of a reply. The NCLAT remanded the
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NCLT, New Delhi order dated 02.01.2020 in C.A.…
NCLT vide order dated 01.12.2020 in…
The case pertains to a Company Petition filed by Kaliber Associates Private Limited ('Applicant') through its liquidator Mr. Mohan Lal Jain under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against J.R. Modi Associates Limited (‘Corporate Debtor') due to default in repayment of a financial debt. The applicant had disbursed Rs. 29,05,00,000/- to the Corporate Debtor, out of which Rs. 9,05,00,000/- remained unpaid as of 31.03.2019. The Corporate Debtor had previously faced CIRP initiation, which was set aside by the NCLAT, remanding the matter for fresh consideration after the Corporate Debtor filed a reply.
Kaliber Associates Private Limited, undergoing liquidation, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against J.R. Modi Associates Limited, the Corporate Debtor. The applicant, through its liquidator Mr. Mohan Lal Jain, claimed that it had advanced a total sum of Rs. 29,05,00,000/- to the Corporate Debtor as an advance against property. The Corporate Debtor made certain payments, but Rs. 9,05,00,000/- remained outstanding as of 31.03.2019. The Corporate Debtor's registered office is in New Delhi. The Corporate Debtor had previously faced CIRP initiation, which was set aside by the NCLAT due to procedural issues regarding the filing of a reply. The NCLAT remanded the
…NCLT, New Delhi order dated 02.01.2020 in C.A.…
NCLT vide order dated 01.12.2020 in…