Omkara Assets Reconstruction Private Limited (Financial Creditor) filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) against Matoshree Infrastructure Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's default on multiple construction finance loans originally availed from Housing Development Finance Corporation Limited (HDFC), which were subsequently assigned to Omkara Assets. The total claimed default amount was Rs. 209,72,76,843/- as of February 24, 2025. The Corporate Debtor raised several objections, including that the application was time-barred, lacked proper documentation (Statement of Accounts, Bankers' Books Evidence Act
…C.P. (IB) No. 824 of 2025 (Application) was filed on March 1, 2025, by Omkara Assets Reconstruction Private Limited (FC).
The application seeks initiation of CIRP against Matoshree Infrastructure Private Limited (CD).
The application was affirmed by Mr. Piyush Jain, Authorised Representative of Omkara Assets Reconstruction Private Limited, authorized vide Board Resolution dated July 16, 2024.
The amount claimed to be in default is Rs. 209,72,76,843/- as on February 24, 2025.
The date of default for three term loans is stated as March 31, 2019, and for the fourth term loan, it is September 14, 2021.
SSARVI Resolution Services LLP through its Authorised Signatory Mr. Prashant Jain was proposed as the Interim Resolution Professional (IRP).
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Corporate Debtor entered into a Development…
Corporate Debtor approached HDFC Limited…
Omkara Assets Reconstruction Private Limited (Financial Creditor) filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC) against Matoshree Infrastructure Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's default on multiple construction finance loans originally availed from Housing Development Finance Corporation Limited (HDFC), which were subsequently assigned to Omkara Assets. The total claimed default amount was Rs. 209,72,76,843/- as of February 24, 2025. The Corporate Debtor raised several objections, including that the application was time-barred, lacked proper documentation (Statement of Accounts, Bankers' Books Evidence Act
…C.P. (IB) No. 824 of 2025 (Application) was filed on March 1, 2025, by Omkara Assets Reconstruction Private Limited (FC).
The application seeks initiation of CIRP against Matoshree Infrastructure Private Limited (CD).
The application was affirmed by Mr. Piyush Jain, Authorised Representative of Omkara Assets Reconstruction Private Limited, authorized vide Board Resolution dated July 16, 2024.
The amount claimed to be in default is Rs. 209,72,76,843/- as on February 24, 2025.
The date of default for three term loans is stated as March 31, 2019, and for the fourth term loan, it is September 14, 2021.
SSARVI Resolution Services LLP through its Authorised Signatory Mr. Prashant Jain was proposed as the Interim Resolution Professional (IRP).
…Corporate Debtor entered into a Development…
Corporate Debtor approached HDFC Limited…