The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Mrs. Vijaylaxmi Ghuwalewala (Financial Creditor/Applicant) to initiate Corporate Insolvency Resolution Process (CIRP) against Mobile Constructions Pvt. Ltd. (Corporate Debtor/Respondent).
Mrs. Vijaylaxmi Ghuwalewala filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 to initiate CIRP against Mobile Constructions Pvt. Ltd.
The total amount of default claimed is Rs. 7,20,23,656/-, with the date of default being 02.11.2023.
A Memorandum of Understanding (MOU) was executed on December 10, 2018, between the Applicant and the Corporate Debtor.
The Applicant transferred Rs. 4,08,50,000 into the Corporate Debtor's account.
The Corporate Debtor acknowledged the debt in its audited balance sheets.
The Corporate Debtor failed to make the required payments despite a legal notice.
The Respondent (Corporate Debtor) contended that the amount was part of a larger investment and the MOU was terminated.
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A Memorandum of Understanding (MOU) was…
The Corporate Debtor was paid a sum of Rs.…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Mrs. Vijaylaxmi Ghuwalewala (Financial Creditor/Applicant) to initiate Corporate Insolvency Resolution Process (CIRP) against Mobile Constructions Pvt. Ltd. (Corporate Debtor/Respondent).
Mrs. Vijaylaxmi Ghuwalewala filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 to initiate CIRP against Mobile Constructions Pvt. Ltd.
The total amount of default claimed is Rs. 7,20,23,656/-, with the date of default being 02.11.2023.
A Memorandum of Understanding (MOU) was executed on December 10, 2018, between the Applicant and the Corporate Debtor.
The Applicant transferred Rs. 4,08,50,000 into the Corporate Debtor's account.
The Corporate Debtor acknowledged the debt in its audited balance sheets.
The Corporate Debtor failed to make the required payments despite a legal notice.
The Respondent (Corporate Debtor) contended that the amount was part of a larger investment and the MOU was terminated.
…A Memorandum of Understanding (MOU) was…
The Corporate Debtor was paid a sum of Rs.…