Jeevan Jyoti Vanijya Limited (Financial Creditor) filed a Section 7 IBC application against Sunstar Realty Development Limited (Corporate Debtor) for initiating CIRP. The Financial Creditor disbursed Rs. 3 Crores as Inter Corporate Deposit at 9% p.a. in three tranches in November 2024. The Corporate Debtor defaulted on 27/01/2025, with an outstanding amount of Rs. 3,09,34,520/-. The applicant provided various documents including loan agreements, bank statements, and demand notices as proof of debt and default. Despite notice, the Corporate Debtor failed to file a reply, and their right to do so was closed. The applicant proposed Mr. Vinod Kumar Chaurasia as the Interim Resolution Professional.
Jeevan Jyoti Vanijya Limited, a Non-Banking Financial Company, filed a Company Petition under Section 7 of the IBC, 2016, against Sunstar Realty Development Limited.
Jeevan Jyoti Vanijya Limited disbursed loans totaling Rs. 3,00,00,000/- (Rupees Three Crores Only) to Sunstar Realty Development Limited as Inter Corporate Deposit.
The loan was disbursed in three tranches on 22/11/2024, 25/11/2024, and 27/11/2024, with an agreed interest rate of 9% p.a. payable at monthly rests and a loan term of 60 days.
Sunstar Realty Development Limited defaulted in repaying the loan and interest, with the date of default being 27/01/2025.
As of 31/05/2025, the outstanding amount was Rs. 3,09,34,520/-, comprising Rs. 3,00,00,000/- principal and Rs. 9,34,520/- interest.
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First tranche of the loan amounting to Rs.…
Second tranche of the loan amounting to Rs.…
Jeevan Jyoti Vanijya Limited (Financial Creditor) filed a Section 7 IBC application against Sunstar Realty Development Limited (Corporate Debtor) for initiating CIRP. The Financial Creditor disbursed Rs. 3 Crores as Inter Corporate Deposit at 9% p.a. in three tranches in November 2024. The Corporate Debtor defaulted on 27/01/2025, with an outstanding amount of Rs. 3,09,34,520/-. The applicant provided various documents including loan agreements, bank statements, and demand notices as proof of debt and default. Despite notice, the Corporate Debtor failed to file a reply, and their right to do so was closed. The applicant proposed Mr. Vinod Kumar Chaurasia as the Interim Resolution Professional.
Jeevan Jyoti Vanijya Limited, a Non-Banking Financial Company, filed a Company Petition under Section 7 of the IBC, 2016, against Sunstar Realty Development Limited.
Jeevan Jyoti Vanijya Limited disbursed loans totaling Rs. 3,00,00,000/- (Rupees Three Crores Only) to Sunstar Realty Development Limited as Inter Corporate Deposit.
The loan was disbursed in three tranches on 22/11/2024, 25/11/2024, and 27/11/2024, with an agreed interest rate of 9% p.a. payable at monthly rests and a loan term of 60 days.
Sunstar Realty Development Limited defaulted in repaying the loan and interest, with the date of default being 27/01/2025.
As of 31/05/2025, the outstanding amount was Rs. 3,09,34,520/-, comprising Rs. 3,00,00,000/- principal and Rs. 9,34,520/- interest.
…First tranche of the loan amounting to Rs.…
Second tranche of the loan amounting to Rs.…