The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s. Global Emerging Markets India Limited (Petitioner/Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Lepakshi Heritage Wellness Village Private Limited (Respondent/Corporate Debtor). The claim is based on a default of Rs. 25,84,94,000/-. The Financial Creditor and Lepakshi Science and Technology Park Private Limited (Borrower) executed an Inter Corporate Deposit (ICD) agreement on 19.03.2012, where Rs. 5,00,00,000/- was forwarded to the Borrower. The Corporate Debtor executed a corporate guarantee in favor of the Financial Creditor guaranteeing repayment of the amount transferred to the Borrower. The Financial Creditor
…1. M/s. Global Emerging Markets India Ltd. (Petitioner/Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Lepakshi Heritage Wellness Village Private Limited (Respondent/Corporate Debtor) for a default of Rs. 25,84,94,000/-
2. Lepakshi Knowledge Hub Private Limited (Project Proponent) entered into a Memorandum of Agreement with the Government of Andhra Pradesh on 22.12.2008.
3. On 19.03.2012, the Financial Creditor and Lepakshi Science and Technology Park Private Limited (Borrower) executed an Inter Corporate Deposit (ICD) agreement for Rs. 5,00,00,000/-, which was forwarded by the Financial Creditor to the Borrower.
4. On 29.03.2012, the Corporate Debtor
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Lepakshi Knowledge Hub Private Limited entered…
Memorandum of Understanding dated 07.01.2012…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s. Global Emerging Markets India Limited (Petitioner/Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Lepakshi Heritage Wellness Village Private Limited (Respondent/Corporate Debtor). The claim is based on a default of Rs. 25,84,94,000/-. The Financial Creditor and Lepakshi Science and Technology Park Private Limited (Borrower) executed an Inter Corporate Deposit (ICD) agreement on 19.03.2012, where Rs. 5,00,00,000/- was forwarded to the Borrower. The Corporate Debtor executed a corporate guarantee in favor of the Financial Creditor guaranteeing repayment of the amount transferred to the Borrower. The Financial Creditor
…1. M/s. Global Emerging Markets India Ltd. (Petitioner/Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Lepakshi Heritage Wellness Village Private Limited (Respondent/Corporate Debtor) for a default of Rs. 25,84,94,000/-
2. Lepakshi Knowledge Hub Private Limited (Project Proponent) entered into a Memorandum of Agreement with the Government of Andhra Pradesh on 22.12.2008.
3. On 19.03.2012, the Financial Creditor and Lepakshi Science and Technology Park Private Limited (Borrower) executed an Inter Corporate Deposit (ICD) agreement for Rs. 5,00,00,000/-, which was forwarded by the Financial Creditor to the Borrower.
4. On 29.03.2012, the Corporate Debtor
Lepakshi Knowledge Hub Private Limited entered…
Memorandum of Understanding dated 07.01.2012…