IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Apna Ghar Properties Private Limited, the Corporate Debtor, due to a default in payment of a financial debt.
IL&FS Financial Services Limited ('Financial Creditor/Applicant') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Apna Ghar Properties Private Limited ('Corporate Debtor/Respondent').
The Corporate Debtor was incorporated on 12.10.1994.
The Corporate Debtor defaulted in making a payment of Rs. 234,35,74,411/- to the Applicant, which constitutes a Financial Debt as defined under Section 5(8) of IBC.
The Respondent is a Corporate Guarantor to the Principal Borrower i.e., M/s Ansal Properties and Infrastructure Limited.
The Applicant had granted a term loan facility of Rs.100,00,00,000/- to Ansal Properties and Infrastructure Limited ('APIL').
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Applicant extended credit facilities of…
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IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Apna Ghar Properties Private Limited, the Corporate Debtor, due to a default in payment of a financial debt.
IL&FS Financial Services Limited ('Financial Creditor/Applicant') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Apna Ghar Properties Private Limited ('Corporate Debtor/Respondent').
The Corporate Debtor was incorporated on 12.10.1994.
The Corporate Debtor defaulted in making a payment of Rs. 234,35,74,411/- to the Applicant, which constitutes a Financial Debt as defined under Section 5(8) of IBC.
The Respondent is a Corporate Guarantor to the Principal Borrower i.e., M/s Ansal Properties and Infrastructure Limited.
The Applicant had granted a term loan facility of Rs.100,00,00,000/- to Ansal Properties and Infrastructure Limited ('APIL').
…Applicant extended credit facilities of…
Loan agreemen…