APRN Enterprises Private Limited, the Financial Creditor (FC), filed C.P. (IB) No. 732 of 2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Marveledge Realtors Private Limited, the Corporate Debtor (CD). The application is based on a default of Rs. 2,26,89,17,589/- as of 31.05.2025, arising from an Inter Corporate Deposit Agreement.
APRN Enterprises Private Limited (Financial Creditor) filed an application under Section 7 of the IBC to initiate CIRP against Marveledge Realtors Private Limited (Corporate Debtor).
The application was based on a default of Rs. 2,26,89,17,589/- as of 31.05.2025, arising from an Inter Corporate Deposit Agreement dated 10.02.2017.
The Corporate Debtor defaulted on repaying the deposit of Rs. 25,00,00,000/- and interest.
The Financial Creditor issued a notice dated 31.10.2023 to the Corporate Debtor, invoking Clause 22.1.2 of the ICD and calling upon the CD to pay an aggregate sum of Rs.174,94,18,485/- along with applicable default interest on the sum of Rs.81,66,52,486/-.
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Inter-Corporate Deposit Agreement dated…
The said amount was disbursed on 10.02.2017…
APRN Enterprises Private Limited, the Financial Creditor (FC), filed C.P. (IB) No. 732 of 2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Marveledge Realtors Private Limited, the Corporate Debtor (CD). The application is based on a default of Rs. 2,26,89,17,589/- as of 31.05.2025, arising from an Inter Corporate Deposit Agreement.
APRN Enterprises Private Limited (Financial Creditor) filed an application under Section 7 of the IBC to initiate CIRP against Marveledge Realtors Private Limited (Corporate Debtor).
The application was based on a default of Rs. 2,26,89,17,589/- as of 31.05.2025, arising from an Inter Corporate Deposit Agreement dated 10.02.2017.
The Corporate Debtor defaulted on repaying the deposit of Rs. 25,00,00,000/- and interest.
The Financial Creditor issued a notice dated 31.10.2023 to the Corporate Debtor, invoking Clause 22.1.2 of the ICD and calling upon the CD to pay an aggregate sum of Rs.174,94,18,485/- along with applicable default interest on the sum of Rs.81,66,52,486/-.
…Inter-Corporate Deposit Agreement dated…
The said amount was disbursed on 10.02.2017…