Shaikh Mahboob Subani & Anr. filed an application (IA No. 903/2023) in the liquidation process of K.K. Welding Limited ("Corporate Debtor") under the Insolvency and Bankruptcy Code, 2016, seeking to exclude a property from the liquidation estate and to retrieve original documents. Applicant No. 1, the proprietor of M/s Wed Enterprises, constructed the Ground Floor and First Floor in the building Flora Avenue on non-agricultural land. He agreed to sell Flat No. 001 and Flat No. 101 to Applicant No. 2 for Rs. 60,00,000/- via an Agreement for Sale dated 29.12.2008, making them co-owners. Applicant No. 1 approached the Corporate Debtor for financial assistance of Rs. 3,00,00,000/- to pay off creditors, and the Corporate Debtor granted the loan at 4% interest
…Shaikh Mahboob Subani and Firoz Shaikh Subani (Applicants) filed IA No. 903/2023 in the liquidation of K.K. Welding Limited (Corporate Debtor). Applicant No. 1, proprietor of M/s Wed Enterprises, built the Ground and First Floors of Flora Avenue. He agreed to sell Flat No. 001 and 101 to Applicant No. 2 for Rs. 60,00,000/- via an Agreement for Sale dated 29.12.2008, making them co-owners. Applicant No. 1 sought Rs. 3,00,00,000/- from the Corporate Debtor for debt repayment, with a 4% monthly interest rate, documented by an Agreement for Sale, Deed of Equitable Mortgage, and MoU. An Agreement for Sale dated 26.04.2012 was executed for Rs. 4,65,00,000/-, but Rs. 1,65,00,000/- was returned to the Corporate Debtor, excluding interest. The Corporate Debtor was to hold title
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Applicant No. 1 agreed to sell Flat No. 001 and…
Applicant No. 1 executed an Agreement for Sale…
Shaikh Mahboob Subani & Anr. filed an application (IA No. 903/2023) in the liquidation process of K.K. Welding Limited ("Corporate Debtor") under the Insolvency and Bankruptcy Code, 2016, seeking to exclude a property from the liquidation estate and to retrieve original documents. Applicant No. 1, the proprietor of M/s Wed Enterprises, constructed the Ground Floor and First Floor in the building Flora Avenue on non-agricultural land. He agreed to sell Flat No. 001 and Flat No. 101 to Applicant No. 2 for Rs. 60,00,000/- via an Agreement for Sale dated 29.12.2008, making them co-owners. Applicant No. 1 approached the Corporate Debtor for financial assistance of Rs. 3,00,00,000/- to pay off creditors, and the Corporate Debtor granted the loan at 4% interest
…Shaikh Mahboob Subani and Firoz Shaikh Subani (Applicants) filed IA No. 903/2023 in the liquidation of K.K. Welding Limited (Corporate Debtor). Applicant No. 1, proprietor of M/s Wed Enterprises, built the Ground and First Floors of Flora Avenue. He agreed to sell Flat No. 001 and 101 to Applicant No. 2 for Rs. 60,00,000/- via an Agreement for Sale dated 29.12.2008, making them co-owners. Applicant No. 1 sought Rs. 3,00,00,000/- from the Corporate Debtor for debt repayment, with a 4% monthly interest rate, documented by an Agreement for Sale, Deed of Equitable Mortgage, and MoU. An Agreement for Sale dated 26.04.2012 was executed for Rs. 4,65,00,000/-, but Rs. 1,65,00,000/- was returned to the Corporate Debtor, excluding interest. The Corporate Debtor was to hold title
…Applicant No. 1 agreed to sell Flat No. 001 and…
Applicant No. 1 executed an Agreement for Sale…