The case involves a Company Petition (CP (IB) No. 915/MB/2023) filed by Piramal Capital and Housing Finance Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Notion Real Estate Private Limited (Corporate Debtor). The Financial Creditor's application is based on the Corporate Debtor's default on a loan agreement dated 23.05.2016. The Financial Creditor claims that the Corporate Debtor defaulted in payment of Pre-EMI due and payable as on 31.03.2019. The Financial Creditor also states that DHFL, which had sanctioned the loan, was acquired by the Financial Creditor
…Piramal Capital and Housing Finance Limited (Financial Creditor, formerly known as Dewan Housing Finance Corporation Limited - DHFL) filed a Company Petition (CP (IB) No. 915/MB/2023) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Notion Real Estate Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor's claim arises from a loan agreement dated 23.05.2016, where DHFL sanctioned a loan of Rs. 360,00,00,000/- to the Corporate Debtor for a Slum Redevelopment Authority (SRA) project. Rs. 359,99,00,000/- was disbursed. Repayment was to be done in 36 equated monthly installments after a 48-month moratorium. The Corporate Debtor executed several documents, including a Simple Mortgage,
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DHFL executed a loan…
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The case involves a Company Petition (CP (IB) No. 915/MB/2023) filed by Piramal Capital and Housing Finance Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Notion Real Estate Private Limited (Corporate Debtor). The Financial Creditor's application is based on the Corporate Debtor's default on a loan agreement dated 23.05.2016. The Financial Creditor claims that the Corporate Debtor defaulted in payment of Pre-EMI due and payable as on 31.03.2019. The Financial Creditor also states that DHFL, which had sanctioned the loan, was acquired by the Financial Creditor
…Piramal Capital and Housing Finance Limited (Financial Creditor, formerly known as Dewan Housing Finance Corporation Limited - DHFL) filed a Company Petition (CP (IB) No. 915/MB/2023) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Notion Real Estate Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor's claim arises from a loan agreement dated 23.05.2016, where DHFL sanctioned a loan of Rs. 360,00,00,000/- to the Corporate Debtor for a Slum Redevelopment Authority (SRA) project. Rs. 359,99,00,000/- was disbursed. Repayment was to be done in 36 equated monthly installments after a 48-month moratorium. The Corporate Debtor executed several documents, including a Simple Mortgage,
…DHFL executed a loan…
Date of creation of…