This case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Anindita Mitra and Arnab Mitra (Operational Creditors) against Sarcar Residency Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditors claimed a debt of ₹95,20,000/- based on a deed of sale where the corporate debtor was to pay this amount to the vendor, Dhira Mitra, who then requested the payment be made to the operational creditors. The corporate debtor issued post-dated cheques which were later dishonored.
On February 3, 2015, a deed of sale was executed between Ms. Dhira Mitra (Vendor) and Sarcar Residency Private Limited (Corporate Debtor), where the vendor sold her 1/27th undivided share in an immovable property. As part of the agreement, the Corporate Debtor was to pay Rs. 95,20,000 to the Vendor three years after the sale. The Vendor requested the Corporate Debtor to pay this amount to Anindita Mitra and Arnab Mitra (Operational Creditors) instead. The Corporate Debtor issued two post-dated cheques totaling Rs. 95,20,000, which were deposited on February 15, 2018, but returned unpaid on February 16, 2018, due to insufficient funds. A demand notice dated February 18, 2019, was issued by the Operational Creditors, but the Corporate Debtor replied on March 2, 2019. The
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Deed of sale executed between Dhira Mitra…
Cheques issued by the…
This case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Anindita Mitra and Arnab Mitra (Operational Creditors) against Sarcar Residency Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The operational creditors claimed a debt of ₹95,20,000/- based on a deed of sale where the corporate debtor was to pay this amount to the vendor, Dhira Mitra, who then requested the payment be made to the operational creditors. The corporate debtor issued post-dated cheques which were later dishonored.
On February 3, 2015, a deed of sale was executed between Ms. Dhira Mitra (Vendor) and Sarcar Residency Private Limited (Corporate Debtor), where the vendor sold her 1/27th undivided share in an immovable property. As part of the agreement, the Corporate Debtor was to pay Rs. 95,20,000 to the Vendor three years after the sale. The Vendor requested the Corporate Debtor to pay this amount to Anindita Mitra and Arnab Mitra (Operational Creditors) instead. The Corporate Debtor issued two post-dated cheques totaling Rs. 95,20,000, which were deposited on February 15, 2018, but returned unpaid on February 16, 2018, due to insufficient funds. A demand notice dated February 18, 2019, was issued by the Operational Creditors, but the Corporate Debtor replied on March 2, 2019. The
…Deed of sale executed between Dhira Mitra…
Cheques issued by the…