The case involves a petition filed by VSJ Investments Private Limited (VSJIPL) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sri Khodiar Realtech Syndication Private Limited, the Corporate Debtor. The petition arises from a corporate guarantee provided by Sri Khodiar Realtech for a loan facility availed by Silver Land Development Corporation and Sri Harsh Developers from Dewan Housing Finance Limited (DHFL), which was later assigned to VSJ Investments. The Financial Creditor claimed default on the loan, leading to the filing of the petition.
Dewan Housing Finance Limited (DHFL) provided loan facilities to Silver Land Development Corporation and Sri Harsh Developers. Sri Khodiar Realtech Syndication Private Limited acted as a corporate guarantor for the loan. DHFL was admitted into CIRP on 03.12.2019, and a resolution plan was approved on 07.06.2021, leading to a reverse merger with Piramal Capital & Housing Finance Company. The loan was assigned to VSJ Investments Private Limited (VSJIPL) on 07.06.2023. The date of default was initially stated as 11.12.2017. The Financial Creditor claimed an amount of Rs.859,94,92,110/- as of 19.04.2022. The Corporate Debtor argued that the disbursed amount was routed back to the Financial Creditor's account on the same date. The Financial Creditor issued a recall
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Dewan Housing Finance Limited (DHFL) was…
A Resolution Plan submitted by the Financial…
The case involves a petition filed by VSJ Investments Private Limited (VSJIPL) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sri Khodiar Realtech Syndication Private Limited, the Corporate Debtor. The petition arises from a corporate guarantee provided by Sri Khodiar Realtech for a loan facility availed by Silver Land Development Corporation and Sri Harsh Developers from Dewan Housing Finance Limited (DHFL), which was later assigned to VSJ Investments. The Financial Creditor claimed default on the loan, leading to the filing of the petition.
Dewan Housing Finance Limited (DHFL) provided loan facilities to Silver Land Development Corporation and Sri Harsh Developers. Sri Khodiar Realtech Syndication Private Limited acted as a corporate guarantor for the loan. DHFL was admitted into CIRP on 03.12.2019, and a resolution plan was approved on 07.06.2021, leading to a reverse merger with Piramal Capital & Housing Finance Company. The loan was assigned to VSJ Investments Private Limited (VSJIPL) on 07.06.2023. The date of default was initially stated as 11.12.2017. The Financial Creditor claimed an amount of Rs.859,94,92,110/- as of 19.04.2022. The Corporate Debtor argued that the disbursed amount was routed back to the Financial Creditor's account on the same date. The Financial Creditor issued a recall
…Dewan Housing Finance Limited (DHFL) was…
A Resolution Plan submitted by the Financial…