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 executed, 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
…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 interest at 24% per annum. A Loan Agreement was signed on July 20, 2011, along with a Demand Promissory Note and an Undertaking cum Indemnity for Post Dated Cheques. The Corporate Debtor created a security over a residential flat. The Corporate Debtor requested cancellation of the flat allotment in October 2011. The Corporate Debtor acknowledged the outstanding amount in April 2014 and requested an extension for repayment, forwarding post-dated cheques. The
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Loan Agreement signed between Financial…
Corporate Debtor…
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 executed, 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
…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 interest at 24% per annum. A Loan Agreement was signed on July 20, 2011, along with a Demand Promissory Note and an Undertaking cum Indemnity for Post Dated Cheques. The Corporate Debtor created a security over a residential flat. The Corporate Debtor requested cancellation of the flat allotment in October 2011. The Corporate Debtor acknowledged the outstanding amount in April 2014 and requested an extension for repayment, forwarding post-dated cheques. The
…Loan Agreement signed between Financial…
Corporate Debtor…