The case involves multiple Interlocutory Applications (IAs) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of Shrinathji Business Ventures Pvt. Ltd. The CIRP was initiated based on an application filed by homebuyers alleging non-allotment of flats in the 'Guman Eternity' project. The Directorate of Enforcement (ED) has raised concerns about fraudulent activities related to the initiation of CIRP and the involvement of related parties. Canara Bank, a financial creditor, also filed an IA seeking acceptance of its claim, which was initially rejected by the Resolution Professional (RP) due to belated submission. The core issue revolves around allegations of fraudulent initiation of CIRP, the validity of claims by homebuyers, and the conduct of
…The main Petition bearing CP No. (IB) 161/7/JPR/2020 was filed by Arti Kanoongo, Anita Khandelwal, Vinod Kumar Kanoongo and Sivraj Jangid, who are homebuyers, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 seeking initiation of the Corporate Insolvency Resolution Process (CIRP) of Shrinathji Business Ventures Pvt. Ltd. The homebuyers alleged non-allotment of flats in the 'Guman Eternity' project. The Directorate of Enforcement (ED) is investigating the Syndicate Bank fraud case, where Shankar Lal Khandelwal, a director of the Corporate Debtor, is accused of misusing KYC documents to fraudulently avail home loans. The ED alleges that the homebuyers are related parties of the Corporate Debtor and initiated the CIRP fraudulently. Canara Bank, a
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The main Petition bearing CP No. (IB)…
Adjudicating Authority initiated the CIRP of…
The case involves multiple Interlocutory Applications (IAs) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of Shrinathji Business Ventures Pvt. Ltd. The CIRP was initiated based on an application filed by homebuyers alleging non-allotment of flats in the 'Guman Eternity' project. The Directorate of Enforcement (ED) has raised concerns about fraudulent activities related to the initiation of CIRP and the involvement of related parties. Canara Bank, a financial creditor, also filed an IA seeking acceptance of its claim, which was initially rejected by the Resolution Professional (RP) due to belated submission. The core issue revolves around allegations of fraudulent initiation of CIRP, the validity of claims by homebuyers, and the conduct of
…The main Petition bearing CP No. (IB) 161/7/JPR/2020 was filed by Arti Kanoongo, Anita Khandelwal, Vinod Kumar Kanoongo and Sivraj Jangid, who are homebuyers, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 seeking initiation of the Corporate Insolvency Resolution Process (CIRP) of Shrinathji Business Ventures Pvt. Ltd. The homebuyers alleged non-allotment of flats in the 'Guman Eternity' project. The Directorate of Enforcement (ED) is investigating the Syndicate Bank fraud case, where Shankar Lal Khandelwal, a director of the Corporate Debtor, is accused of misusing KYC documents to fraudulently avail home loans. The ED alleges that the homebuyers are related parties of the Corporate Debtor and initiated the CIRP fraudulently. Canara Bank, a
…The main Petition bearing CP No. (IB)…
Adjudicating Authority initiated the CIRP of…