IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kailash Realtors Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the corporate debtor's failure to repay a financial debt of Rs. 23,07,38,282/-.
IL&FS Financial Services Limited ('Financial Creditor/Applicant') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kailash Realtors Private Limited ('Corporate Debtor/Respondent').
The Corporate Debtor, Kailash Realtors Private Limited, was incorporated on 23.10.2006.
The Corporate Debtor defaulted on a payment of Rs.23,07,38,282/-, 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.
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Applicant granted a term loan facility of…
The Corporate Debtor…
IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kailash Realtors Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the corporate debtor's failure to repay a financial debt of Rs. 23,07,38,282/-.
IL&FS Financial Services Limited ('Financial Creditor/Applicant') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kailash Realtors Private Limited ('Corporate Debtor/Respondent').
The Corporate Debtor, Kailash Realtors Private Limited, was incorporated on 23.10.2006.
The Corporate Debtor defaulted on a payment of Rs.23,07,38,282/-, 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.
…Applicant granted a term loan facility of…
The Corporate Debtor…