IFCI Limited (Applicant) filed an IA under Section 60(5) of the IBC seeking directions against NPV Insolvency Professionals Private Limited (Respondent) regarding the admission of its claim and recognition as a secured creditor in the CIRP of Replenish Reality Private Limited (Corporate Debtor).
IFCI Limited (Applicant) extended credit facilities to RMOL Engineering & Offshore Limited (Principal Borrower).
Replenish Reality Private Limited (Corporate Debtor) created a mortgage over its land to secure the credit facilities availed by the Principal Borrower.
The Principal Borrower defaulted, leading to SARFAESI proceedings initiated by the Applicant.
The Principal Borrower was admitted into liquidation by the NCLT, Ahmedabad Bench.
The Applicant submitted its claim in Form F as a creditor other than a financial or operational creditor in the CIRP of the Corporate Debtor.
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Corporate Debtor created a mortgage over land…
Principal Borrower…
IFCI Limited (Applicant) filed an IA under Section 60(5) of the IBC seeking directions against NPV Insolvency Professionals Private Limited (Respondent) regarding the admission of its claim and recognition as a secured creditor in the CIRP of Replenish Reality Private Limited (Corporate Debtor).
IFCI Limited (Applicant) extended credit facilities to RMOL Engineering & Offshore Limited (Principal Borrower).
Replenish Reality Private Limited (Corporate Debtor) created a mortgage over its land to secure the credit facilities availed by the Principal Borrower.
The Principal Borrower defaulted, leading to SARFAESI proceedings initiated by the Applicant.
The Principal Borrower was admitted into liquidation by the NCLT, Ahmedabad Bench.
The Applicant submitted its claim in Form F as a creditor other than a financial or operational creditor in the CIRP of the Corporate Debtor.
…Corporate Debtor created a mortgage over land…
Principal Borrower…