M/s. Experts Realty Professionals Pvt Ltd., the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Logix Infrastructure Pvt Ltd., the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to a default in payment of Rs. 15,29,55,385/-.
M/s. Experts Realty Professionals Pvt Ltd. (Financial Creditor) filed an application under Section 7 of the IBC against M/s. Logix Infrastructure Pvt Ltd. (Corporate Debtor) on 06.04.2023.
The Corporate Debtor defaulted on a payment of Rs. 15,29,55,385/- as of 15.01.2022.
The Financial Creditor and Corporate Debtor entered into a business transaction regarding the purchase of 1,37,918 sq. ft. of area in the project Logix Blossom County.
The Applicant agreed to invest in the project at Rs. 2,200/- per sq. ft., and the Respondent consented to transfer the sale proceeds over and above the said price.
Advances amounting to Rs. 15,00,00,000/- were made by the Applicant to the Corporate Debtor from 22.10.2020 to 09.02.2021.
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M/s. Experts Realty Professionals Pvt Ltd., the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Logix Infrastructure Pvt Ltd., the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) due to a default in payment of Rs. 15,29,55,385/-.
M/s. Experts Realty Professionals Pvt Ltd. (Financial Creditor) filed an application under Section 7 of the IBC against M/s. Logix Infrastructure Pvt Ltd. (Corporate Debtor) on 06.04.2023.
The Corporate Debtor defaulted on a payment of Rs. 15,29,55,385/- as of 15.01.2022.
The Financial Creditor and Corporate Debtor entered into a business transaction regarding the purchase of 1,37,918 sq. ft. of area in the project Logix Blossom County.
The Applicant agreed to invest in the project at Rs. 2,200/- per sq. ft., and the Respondent consented to transfer the sale proceeds over and above the said price.
Advances amounting to Rs. 15,00,00,000/- were made by the Applicant to the Corporate Debtor from 22.10.2020 to 09.02.2021.
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