M/s. Krone Finstock Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Krrish Realtech Private Limited (Corporate Debtor). The alleged default amount is Rs. 5,00,00,000/- principal along with Rs. 12,53,425/- interest, with the date of default stated as 25.10.2024. The Corporate Debtor acknowledged the loan and default but argued that its inability to repay was due to extraordinary circumstances, including regulatory and judicial restraints (DTCP order, Supreme Court status quo order, and Enforcement Directorate's attachment order) that had paralyzed its business operations and revenue generation.

M/s. Krone Finstock Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Krrish Realtech Private Limited (Corporate Debtor). The alleged default amount is Rs. 5,00,00,000/- principal along with Rs. 12,53,425/- interest, with the date of default stated as 25.10.2024. The Corporate Debtor acknowledged the loan and default but argued that its inability to repay was due to extraordinary circumstances, including regulatory and judicial restraints (DTCP order, Supreme Court status quo order, and Enforcement Directorate's attachment order) that had paralyzed its business operations and revenue generation.