This case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Kapil Kumar & Ors. (Financial Creditors) against M/s Solitaire Infomedia Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the Corporate Debtor's failure to repay a debt of Rs. 12,72,38,406.66. The Corporate Debtor was allotted land by GNIDA and entered into a collaboration agreement with Premia Projects Limited, where Premia Projects Limited was to develop the land. However, Premia Projects Limited failed to deliver possession of the plots to the allottees, leading to the initiation of insolvency proceedings against Premia Projects Limited. The present petition is preferred by 75
…The Corporate Debtor, M/s Solitaire Infomedia Private Limited, was incorporated on 24.07.2007. GNIDA allotted a plot of land to the Corporate Debtor on 11.03.2009. On 01.10.2012, the Corporate Debtor entered into a collaboration agreement with M/s Premia Projects Limited, handing over possession of the land for development. Tarun Sheinh became a director of the Corporate Debtor on 01.10.2012 and held 95% equity of Premia Projects Limited as of 31.03.2015, effectively controlling both entities. Premia Projects Limited failed to grant possession of the allotted flats, leading to insolvency proceedings against Premia Projects Limited under Section 7 of the Code (CP IB No. 104 of 2018), which was admitted on 30.05.2018. The present petition is filed by 75 applicants
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M/s Solitaire I…
Greater Noida Industrial Development Authority…
This case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Kapil Kumar & Ors. (Financial Creditors) against M/s Solitaire Infomedia Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the Corporate Debtor's failure to repay a debt of Rs. 12,72,38,406.66. The Corporate Debtor was allotted land by GNIDA and entered into a collaboration agreement with Premia Projects Limited, where Premia Projects Limited was to develop the land. However, Premia Projects Limited failed to deliver possession of the plots to the allottees, leading to the initiation of insolvency proceedings against Premia Projects Limited. The present petition is preferred by 75
…The Corporate Debtor, M/s Solitaire Infomedia Private Limited, was incorporated on 24.07.2007. GNIDA allotted a plot of land to the Corporate Debtor on 11.03.2009. On 01.10.2012, the Corporate Debtor entered into a collaboration agreement with M/s Premia Projects Limited, handing over possession of the land for development. Tarun Sheinh became a director of the Corporate Debtor on 01.10.2012 and held 95% equity of Premia Projects Limited as of 31.03.2015, effectively controlling both entities. Premia Projects Limited failed to grant possession of the allotted flats, leading to insolvency proceedings against Premia Projects Limited under Section 7 of the Code (CP IB No. 104 of 2018), which was admitted on 30.05.2018. The present petition is filed by 75 applicants
…M/s Solitaire I…
Greater Noida Industrial Development Authority…