Evanie Eco Nest Home Buyers Association, representing homebuyers, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Evanie Infrastructure Private Limited (Corporate Debtor). The homebuyers had advanced monies for flats and bungalows in the 'Evanie Eco Nest' project, but the Corporate Debtor failed to commence construction or deliver the units. Several other homebuyers filed intervention applications to join the main petition. The Corporate Debtor contested the maintainability of the application, arguing lack of jurisdiction, locus standi, and failure to meet the statutory threshold for financial creditors, claiming the dispute was civil/consumer in nature and not a
…Evanie Eco Nest Home Buyers Association (Financial Creditor/Petitioner) filed a Section 7 IBC application against Evanie Infrastructure Private Limited (Corporate Debtor).
Financial Creditors advanced monies for flats and bungalows in the 'Evanie Eco Nest' project, but the Corporate Debtor failed to commence construction or demarcate units.
The Corporate Debtor failed to adhere to the terms of agreements or oral assurances made to the Financial Creditors.
The Financial Creditors are entitled to get back the advance monies paid to the Corporate Debtor.
The Corporate Debtor represented to homebuyers that it had obtained permission for over 540 units but applied for registration for only 80 units, which was rejected on February 21, 2020.
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Applicant in IVN.P(IBC)/…
Applicants in IVN.P(IBC)/2…
Evanie Eco Nest Home Buyers Association, representing homebuyers, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Evanie Infrastructure Private Limited (Corporate Debtor). The homebuyers had advanced monies for flats and bungalows in the 'Evanie Eco Nest' project, but the Corporate Debtor failed to commence construction or deliver the units. Several other homebuyers filed intervention applications to join the main petition. The Corporate Debtor contested the maintainability of the application, arguing lack of jurisdiction, locus standi, and failure to meet the statutory threshold for financial creditors, claiming the dispute was civil/consumer in nature and not a
…Evanie Eco Nest Home Buyers Association (Financial Creditor/Petitioner) filed a Section 7 IBC application against Evanie Infrastructure Private Limited (Corporate Debtor).
Financial Creditors advanced monies for flats and bungalows in the 'Evanie Eco Nest' project, but the Corporate Debtor failed to commence construction or demarcate units.
The Corporate Debtor failed to adhere to the terms of agreements or oral assurances made to the Financial Creditors.
The Financial Creditors are entitled to get back the advance monies paid to the Corporate Debtor.
The Corporate Debtor represented to homebuyers that it had obtained permission for over 540 units but applied for registration for only 80 units, which was rejected on February 21, 2020.
…Applicant in IVN.P(IBC)/…
Applicants in IVN.P(IBC)/2…