IIFL Home Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s MMC Realtech Solutions OPC Private Limited (Corporate Debtor). The Financial Creditor alleged default on two loan facilities totaling Rs 4,55,32,638.80. The Adjudicating Authority questioned the maintainability of the application, specifically whether the loans were personal loans granted to individual borrowers with the Corporate Debtor merely acting as a co-borrower, and sought clarification on whether a Section 7 petition could be maintained against the Corporate Debtor under such circumstances.
IIFL Home Finance Limited (Applicant/Financial Creditor) filed CP (IB) No. 543/2025 under Section 7 of the IBC against M/s MMC Realtech Solutions OPC Private Limited (Corporate Debtor).
The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for alleged default in repayment of loan facilities.
The Applicant also filed I.A. 5608/2025 under Rule 11 of the NCLT Rules to bring on record Annexure A-1 to A-3, comprising copies of NeSL Form-D and Form-C.
The Corporate Debtor, along with co-borrowers Mr. Deepanshu Madaan, Mrs. Veena Madaan, and MMC Enterprises, availed two loan facilities: Rs 2.96 crore (Loan Account No. 986603) and Rs 1.91 crore (Loan Account No. IL10420418).
…Sign in to view the parties.
One of the…
Another loan a…
IIFL Home Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s MMC Realtech Solutions OPC Private Limited (Corporate Debtor). The Financial Creditor alleged default on two loan facilities totaling Rs 4,55,32,638.80. The Adjudicating Authority questioned the maintainability of the application, specifically whether the loans were personal loans granted to individual borrowers with the Corporate Debtor merely acting as a co-borrower, and sought clarification on whether a Section 7 petition could be maintained against the Corporate Debtor under such circumstances.
IIFL Home Finance Limited (Applicant/Financial Creditor) filed CP (IB) No. 543/2025 under Section 7 of the IBC against M/s MMC Realtech Solutions OPC Private Limited (Corporate Debtor).
The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for alleged default in repayment of loan facilities.
The Applicant also filed I.A. 5608/2025 under Rule 11 of the NCLT Rules to bring on record Annexure A-1 to A-3, comprising copies of NeSL Form-D and Form-C.
The Corporate Debtor, along with co-borrowers Mr. Deepanshu Madaan, Mrs. Veena Madaan, and MMC Enterprises, availed two loan facilities: Rs 2.96 crore (Loan Account No. 986603) and Rs 1.91 crore (Loan Account No. IL10420418).
…One of the…
Another loan a…