The case involves a petition filed by Kavita Rajesh Chaturvedi (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Neptune Ventures and Developers Private Limited (Corporate Debtor). The Financial Creditor alleges that the Corporate Debtor defaulted in making payment of an aggregate amount of Rs. 17,84,219/- along with interest. The Corporate Debtor had approached the Financial Creditor for a short-term loan of Rs. 1,00,00,000/- in 2011, which was granted. A loan agreement was signed, and the Corporate Debtor created a security over an immovable property. The Corporate Debtor later requested cancellation of the allotment of the flat. Despite some repayments, a
…Kavita Rajesh Chaturvedi (Financial Creditor) filed a petition against Neptune Ventures and Developers Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had taken a short-term loan of Rs. 1,00,00,000/- from the Financial Creditor in July 2011, with an interest rate of 24% per annum. A loan agreement was signed, and the Corporate Debtor created a security over an immovable property. The Corporate Debtor later requested cancellation of the allotment of the flat. The Corporate Debtor acknowledged the outstanding amount in a letter dated 1st April 2014 and requested an extension for repayment. The Corporate Debtor also forwarded post-dated cheques, one of which was honored. The Corporate Debtor repaid Rs.
…Sign in to view the parties.
Loan Agreement signed between Financial…
Demand Promissory Note…
The case involves a petition filed by Kavita Rajesh Chaturvedi (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Neptune Ventures and Developers Private Limited (Corporate Debtor). The Financial Creditor alleges that the Corporate Debtor defaulted in making payment of an aggregate amount of Rs. 17,84,219/- along with interest. The Corporate Debtor had approached the Financial Creditor for a short-term loan of Rs. 1,00,00,000/- in 2011, which was granted. A loan agreement was signed, and the Corporate Debtor created a security over an immovable property. The Corporate Debtor later requested cancellation of the allotment of the flat. Despite some repayments, a
…Kavita Rajesh Chaturvedi (Financial Creditor) filed a petition against Neptune Ventures and Developers Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had taken a short-term loan of Rs. 1,00,00,000/- from the Financial Creditor in July 2011, with an interest rate of 24% per annum. A loan agreement was signed, and the Corporate Debtor created a security over an immovable property. The Corporate Debtor later requested cancellation of the allotment of the flat. The Corporate Debtor acknowledged the outstanding amount in a letter dated 1st April 2014 and requested an extension for repayment. The Corporate Debtor also forwarded post-dated cheques, one of which was honored. The Corporate Debtor repaid Rs.
…Loan Agreement signed between Financial…
Demand Promissory Note…