The Applicants, ex-directors of Shree Vardhman Buildprop Private Limited (Corporate Debtor), filed an application under Rule 11 of the NCLT Rules, 2016. They sought to remove Respondent No. 3 (Kautilya Finance BV) and Respondent No. 4 (Kautilya Real Estate Fund) from the Committee of Creditors (CoC) of the Corporate Debtor, alleging they are 'related parties' under Section 5(24) of the IBC. They also requested Respondent No. 2 (Ducturus Resolution Professional Private Limited), the Interim Resolution Professional (IRP), to halt further CoC meetings until related Supreme Court appeals were decided. The Corporate Debtor had obtained financial assistance from Respondent No. 3 and No. 4 through debentures, with Respondent No. 1 (IDBI Trusteeship Services Limited) acting as
…Mr. Rishi Gupta and Mr. Sandeep Jain are ex-directors of Shree Vardhman Buildprop Private Limited (Corporate Debtor).
The Applicants filed I.A. 3699 ND 2024 under Rule 11 of the National Company Law Tribunal Rules, 2016.
The Adjudicating Authority initiated CIRP of the Corporate Debtor on 29.04.2024 and appointed Ducturus Resolution Professional Private Limited (Respondent No. 2) as the Interim Resolution Professional (IRP).
The Corporate Debtor developed a Residential Group Housing Project named "Shree Vardhman Mantra".
DSS Infrastructures Private Limited, a wholly-owned subsidiary of the Corporate Debtor, transferred Development Rights over the Project Land to the Corporate Debtor.
…Sign in to view the parties.
Debenture Subscription Agreement (DSA)…
Hypothecation Deed executed, hypothecating…
The Applicants, ex-directors of Shree Vardhman Buildprop Private Limited (Corporate Debtor), filed an application under Rule 11 of the NCLT Rules, 2016. They sought to remove Respondent No. 3 (Kautilya Finance BV) and Respondent No. 4 (Kautilya Real Estate Fund) from the Committee of Creditors (CoC) of the Corporate Debtor, alleging they are 'related parties' under Section 5(24) of the IBC. They also requested Respondent No. 2 (Ducturus Resolution Professional Private Limited), the Interim Resolution Professional (IRP), to halt further CoC meetings until related Supreme Court appeals were decided. The Corporate Debtor had obtained financial assistance from Respondent No. 3 and No. 4 through debentures, with Respondent No. 1 (IDBI Trusteeship Services Limited) acting as
…Mr. Rishi Gupta and Mr. Sandeep Jain are ex-directors of Shree Vardhman Buildprop Private Limited (Corporate Debtor).
The Applicants filed I.A. 3699 ND 2024 under Rule 11 of the National Company Law Tribunal Rules, 2016.
The Adjudicating Authority initiated CIRP of the Corporate Debtor on 29.04.2024 and appointed Ducturus Resolution Professional Private Limited (Respondent No. 2) as the Interim Resolution Professional (IRP).
The Corporate Debtor developed a Residential Group Housing Project named "Shree Vardhman Mantra".
DSS Infrastructures Private Limited, a wholly-owned subsidiary of the Corporate Debtor, transferred Development Rights over the Project Land to the Corporate Debtor.
…Debenture Subscription Agreement (DSA)…
Hypothecation Deed executed, hypothecating…