Piramal Capital & Housing Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Venue Promoters Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a debt of Rs. 75,00,52,572/-. The Corporate Debtor, along with other co-borrowers, had requested financial assistance towards a mortgage loan. The account was classified as NPA on 30.06.2015. The Corporate Debtor argued that the application was barred by limitation and the amount claimed was inaccurate.
Piramal Capital & Housing Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Venue Promoters Private Limited (Corporate Debtor). The Financial Creditor claimed a debt of Rs. 75,00,52,572/- as of 31.03.2022. The Corporate Debtor, along with 19 other associate companies, had requested financial assistance towards a mortgage loan. The Financial Creditor sanctioned a loan of Rs. 20,00,00,000/- jointly to the Corporate Debtor and the co-borrowers. The loan was secured by a joint mortgage of immovable properties. The Corporate Debtor executed a Common Loan Agreement and a Demand Promissory Note. The date of default was averred as 09.08.2017. The account was classified as NPA on 30.06.2015. The
…Sign in to view the parties.
Sanction letter issued…
Common Loan Agreement…
Piramal Capital & Housing Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Venue Promoters Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a debt of Rs. 75,00,52,572/-. The Corporate Debtor, along with other co-borrowers, had requested financial assistance towards a mortgage loan. The account was classified as NPA on 30.06.2015. The Corporate Debtor argued that the application was barred by limitation and the amount claimed was inaccurate.
Piramal Capital & Housing Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Venue Promoters Private Limited (Corporate Debtor). The Financial Creditor claimed a debt of Rs. 75,00,52,572/- as of 31.03.2022. The Corporate Debtor, along with 19 other associate companies, had requested financial assistance towards a mortgage loan. The Financial Creditor sanctioned a loan of Rs. 20,00,00,000/- jointly to the Corporate Debtor and the co-borrowers. The loan was secured by a joint mortgage of immovable properties. The Corporate Debtor executed a Common Loan Agreement and a Demand Promissory Note. The date of default was averred as 09.08.2017. The account was classified as NPA on 30.06.2015. The
…Sanction letter issued…
Common Loan Agreement…