Reena Joshi, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against True Value Homes (India) Private Limited, the Corporate Debtor. The Operational Creditor claimed a default amount of Rs. 5,00,62,000/-. The Corporate Debtor argued that there was a pre-existing dispute and that the application was filed to coerce and extort money.
M/s Sanch, a proprietorship firm owned by Reena Joshi, provides financial advisory and investment consultancy services. Reena Joshi appointed Sh. Alok Joshi as her attorney to file the petition against True Value Homes (India) Private Limited, a real estate company. The Corporate Debtor approached Reena Joshi and Sh. Alok Joshi in February 2017 for consultancy services. An agreement was executed on 2017-02-11, appointing the Operational Creditor and M/s Akaar as 'Arranger' for arranging loan facilities. Indiabulls Housing Finance Limited agreed to take over existing loans and grant a top-up loan based on these services. The Operational Creditor raised invoices for consultancy fees, including invoice no. 098 for Rs. 5,15,77,500/- and invoice no. 157 for Rs.
…Sign in to view the parties.
Corporate Debtor…
Agreement executed, appointing Operational…
Reena Joshi, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against True Value Homes (India) Private Limited, the Corporate Debtor. The Operational Creditor claimed a default amount of Rs. 5,00,62,000/-. The Corporate Debtor argued that there was a pre-existing dispute and that the application was filed to coerce and extort money.
M/s Sanch, a proprietorship firm owned by Reena Joshi, provides financial advisory and investment consultancy services. Reena Joshi appointed Sh. Alok Joshi as her attorney to file the petition against True Value Homes (India) Private Limited, a real estate company. The Corporate Debtor approached Reena Joshi and Sh. Alok Joshi in February 2017 for consultancy services. An agreement was executed on 2017-02-11, appointing the Operational Creditor and M/s Akaar as 'Arranger' for arranging loan facilities. Indiabulls Housing Finance Limited agreed to take over existing loans and grant a top-up loan based on these services. The Operational Creditor raised invoices for consultancy fees, including invoice no. 098 for Rs. 5,15,77,500/- and invoice no. 157 for Rs.
…Corporate Debtor…
Agreement executed, appointing Operational…