This case involves a Company Petition filed by Rajendra Raja Bali Singh and others, who are home buyers, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Rohan Developers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioners, as financial creditors, claim a financial debt of Rs. 82,23,15,906/- with a default date of 30.12.2023. The corporate debtor is responsible for the development of the project '7 HUGHES' in Mumbai. The petitioners entered into agreements with the corporate debtor for residential units in the project. The corporate debtor has failed to deliver the promised flats despite receiving substantial payments. The project was initially scheduled for completion by 31.03.2020, later revised to
…Rajendra Raja Bali Singh and other home buyers filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Rohan Developers Private Limited. The petitioners claimed a financial debt of Rs. 82,23,15,906/- with a default date of 30.12.2023. The petitioners are home buyers in the '7 HUGHES' project developed by Rohan Developers. They entered into agreements to purchase residential units but the project was delayed. The initial completion date was 31.03.2020, later revised to 30.12.2023, but construction progress was minimal. The petitioners collectively hold 7 allotments/units. The corporate debtor argued that some petitioners are assignees of original tenants and their claims are under
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A Joint Development Agreement (JDA) was…
Mr. Rajendra Raja Bali Singh (Petitioner…
This case involves a Company Petition filed by Rajendra Raja Bali Singh and others, who are home buyers, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Rohan Developers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioners, as financial creditors, claim a financial debt of Rs. 82,23,15,906/- with a default date of 30.12.2023. The corporate debtor is responsible for the development of the project '7 HUGHES' in Mumbai. The petitioners entered into agreements with the corporate debtor for residential units in the project. The corporate debtor has failed to deliver the promised flats despite receiving substantial payments. The project was initially scheduled for completion by 31.03.2020, later revised to
…Rajendra Raja Bali Singh and other home buyers filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Rohan Developers Private Limited. The petitioners claimed a financial debt of Rs. 82,23,15,906/- with a default date of 30.12.2023. The petitioners are home buyers in the '7 HUGHES' project developed by Rohan Developers. They entered into agreements to purchase residential units but the project was delayed. The initial completion date was 31.03.2020, later revised to 30.12.2023, but construction progress was minimal. The petitioners collectively hold 7 allotments/units. The corporate debtor argued that some petitioners are assignees of original tenants and their claims are under
…A Joint Development Agreement (JDA) was…
Mr. Rajendra Raja Bali Singh (Petitioner…