The case involves a petition filed by Mr. Nitin Mehta and others, acting as 'Applicant/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. The applicants sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Samiah International Builders Limited, the 'Respondent'. The applicants claimed to have booked units in the 'Green View Apartment' project developed by the respondent and defaulted on payments.
Mr. Nitin Mehta and several others ('Applicants/Financial Creditors') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Samiah International Builders Limited ('Respondent'). The Respondent is a company incorporated on 19.09.2003. The Applicants claimed to have booked units in the 'Green View Apartment' project located at Chorosia Estate, Greater Noida, which was being developed by the Respondent along with Arcmate Housing Solutions Pvt. Ltd. under the name Arcmate Samiah Consortium. The Applicants alleged that the Respondent neither handed over possession of the units nor refunded the payments made. The Respondent argued that the Applicants booked their apartments by
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M/s. Samiah Internationa…
Arcmate Housing Solutions Pvt. Ltd. and…
The case involves a petition filed by Mr. Nitin Mehta and others, acting as 'Applicant/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. The applicants sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Samiah International Builders Limited, the 'Respondent'. The applicants claimed to have booked units in the 'Green View Apartment' project developed by the respondent and defaulted on payments.
Mr. Nitin Mehta and several others ('Applicants/Financial Creditors') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Samiah International Builders Limited ('Respondent'). The Respondent is a company incorporated on 19.09.2003. The Applicants claimed to have booked units in the 'Green View Apartment' project located at Chorosia Estate, Greater Noida, which was being developed by the Respondent along with Arcmate Housing Solutions Pvt. Ltd. under the name Arcmate Samiah Consortium. The Applicants alleged that the Respondent neither handed over possession of the units nor refunded the payments made. The Respondent argued that the Applicants booked their apartments by
…M/s. Samiah Internationa…
Arcmate Housing Solutions Pvt. Ltd. and…