The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Global Emerging Markets India Ltd. (Financial Creditor/Petitioner) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Lepakshi Science and Technology Park Private Limited (Corporate Debtor/Respondent). The claim arises from an Inter Corporate Deposit (ICD) agreement dated 19.03.2012, where the Financial Creditor forwarded Rs. 5,00,00,000/- to the Corporate Debtor. The ICD was executed in furtherance of a Memorandum of Understanding (MOU) dated 07.01.2012, where the Financial Creditor intended to invest in a project undertaken by Lepakshi Knowledge Hub Private Limited (Project Proponent). The Project Proponent had an agreement with the
…On 19.03.2012, M/s. Global Emerging Markets India Ltd. (Financial Creditor) and M/s. Lepakshi Science and Technology Park Private Limited (Corporate Debtor) executed an Inter Corporate Deposit (ICD) agreement for Rs. 5,00,00,000/-. The ICD was in furtherance of a Memorandum of Understanding (MOU) dated 07.01.2012 between the Financial Creditor and Lepakshi Knowledge Hub Private Limited (Project Proponent). The Financial Creditor was investing in a project undertaken by the Project Proponent, who had an agreement with the Government of Andhra Pradesh to set up a global knowledge hub. The Project Proponent was to transfer 2000 acres and 650 acres of land to the Corporate Debtor and Lepakshi Heritage Wellness Village Private Limited (Guarantor). The Financial Creditor
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MOU entered by the Financial Creditor with…
Financial Creditor and…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/s. Global Emerging Markets India Ltd. (Financial Creditor/Petitioner) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Lepakshi Science and Technology Park Private Limited (Corporate Debtor/Respondent). The claim arises from an Inter Corporate Deposit (ICD) agreement dated 19.03.2012, where the Financial Creditor forwarded Rs. 5,00,00,000/- to the Corporate Debtor. The ICD was executed in furtherance of a Memorandum of Understanding (MOU) dated 07.01.2012, where the Financial Creditor intended to invest in a project undertaken by Lepakshi Knowledge Hub Private Limited (Project Proponent). The Project Proponent had an agreement with the
…On 19.03.2012, M/s. Global Emerging Markets India Ltd. (Financial Creditor) and M/s. Lepakshi Science and Technology Park Private Limited (Corporate Debtor) executed an Inter Corporate Deposit (ICD) agreement for Rs. 5,00,00,000/-. The ICD was in furtherance of a Memorandum of Understanding (MOU) dated 07.01.2012 between the Financial Creditor and Lepakshi Knowledge Hub Private Limited (Project Proponent). The Financial Creditor was investing in a project undertaken by the Project Proponent, who had an agreement with the Government of Andhra Pradesh to set up a global knowledge hub. The Project Proponent was to transfer 2000 acres and 650 acres of land to the Corporate Debtor and Lepakshi Heritage Wellness Village Private Limited (Guarantor). The Financial Creditor
…MOU entered by the Financial Creditor with…
Financial Creditor and…