Euro Corporate Services Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Royal Fantasy Constructions Pvt. Ltd.
Euro Corporate Services Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC to initiate CIRP against Royal Fantasy Constructions Pvt. Ltd. (Corporate Debtor).
The total amount of default claimed is Rs. 2,02,05,153/- as of 31st July 2024, with the date of default being 13.08.2024.
The Financial Creditor and Corporate Debtor had an oral agreement for interest at 12% p.a., later reduced to 9% p.a. due to the Corporate Debtor's financial difficulties.
The Corporate Debtor offered a flat as security, but later it was found that third-party rights had already been created on the flat.
The Corporate Debtor admitted its liability by executing Confirmation of Accounts and paying TDS on interest.
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Agreement entered into amongst Group A…
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Euro Corporate Services Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Royal Fantasy Constructions Pvt. Ltd.
Euro Corporate Services Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC to initiate CIRP against Royal Fantasy Constructions Pvt. Ltd. (Corporate Debtor).
The total amount of default claimed is Rs. 2,02,05,153/- as of 31st July 2024, with the date of default being 13.08.2024.
The Financial Creditor and Corporate Debtor had an oral agreement for interest at 12% p.a., later reduced to 9% p.a. due to the Corporate Debtor's financial difficulties.
The Corporate Debtor offered a flat as security, but later it was found that third-party rights had already been created on the flat.
The Corporate Debtor admitted its liability by executing Confirmation of Accounts and paying TDS on interest.
…Agreement entered into amongst Group A…
Financial Creditor…