The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Aditya Chokshi Family Trust, the Financial Creditor, against SL Residential Layout Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 3,55,96,376/-. The Corporate Debtor issued Secured Redeemable Non-Convertible Debentures (Series B) to the Financial Creditor. The Corporate Debtor failed to redeem the debentures on the due date, leading to the default. A compromise decree was entered into between the parties, but the Corporate Debtor failed to adhere to the terms of the decree as well. The Financial Creditor initiated recovery proceedings under the SARFAESI Act. The Corporate Debtor argued that the default date should be considered as per the

The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Aditya Chokshi Family Trust, the Financial Creditor, against SL Residential Layout Private Limited, the Corporate Debtor, for defaulting on a payment of Rs. 3,55,96,376/-. The Corporate Debtor issued Secured Redeemable Non-Convertible Debentures (Series B) to the Financial Creditor. The Corporate Debtor failed to redeem the debentures on the due date, leading to the default. A compromise decree was entered into between the parties, but the Corporate Debtor failed to adhere to the terms of the decree as well. The Financial Creditor initiated recovery proceedings under the SARFAESI Act. The Corporate Debtor argued that the default date should be considered as per the