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 a loan. 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 a residential flat. The Corporate Debtor later requested cancellation of the flat allotment. Despite some repayments and adjustments, a significant amount remained unpaid, leading to the
…In July 2011, Neptune Ventures and Developers Private Limited (Corporate Debtor) approached Kavita Rajesh Chaturvedi (Financial Creditor) for a short-term loan of Rs. 1,00,00,000. The Financial Creditor granted the loan, and a Loan Agreement dated July 20, 2011, was executed. The Corporate Debtor issued a Demand Promissory Note and an Undertaking cum Indemnity for Post Dated Cheques, both dated July 20, 2011. The Corporate Debtor created a security over a residential flat. The Corporate Debtor requested cancellation of the flat allotment in October 2011, which the Financial Creditor accepted. The Corporate Debtor acknowledged the outstanding amount in a letter dated April 1, 2014, and requested an extension for repayment. The Corporate Debtor repaid Rs. 5,40,000
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Loan Agreement dated…
Corporate Debtor addressed a Letter dated 16th…
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 a loan. 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 a residential flat. The Corporate Debtor later requested cancellation of the flat allotment. Despite some repayments and adjustments, a significant amount remained unpaid, leading to the
…In July 2011, Neptune Ventures and Developers Private Limited (Corporate Debtor) approached Kavita Rajesh Chaturvedi (Financial Creditor) for a short-term loan of Rs. 1,00,00,000. The Financial Creditor granted the loan, and a Loan Agreement dated July 20, 2011, was executed. The Corporate Debtor issued a Demand Promissory Note and an Undertaking cum Indemnity for Post Dated Cheques, both dated July 20, 2011. The Corporate Debtor created a security over a residential flat. The Corporate Debtor requested cancellation of the flat allotment in October 2011, which the Financial Creditor accepted. The Corporate Debtor acknowledged the outstanding amount in a letter dated April 1, 2014, and requested an extension for repayment. The Corporate Debtor repaid Rs. 5,40,000
…Loan Agreement dated…
Corporate Debtor addressed a Letter dated 16th…