M/s Sadhana City Homes Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s UPAL Buildtech Private Limited, the Corporate Debtor.
M/s Sadhana City Homes Private Limited filed a petition under Section 7 of the IBC to initiate CIRP against M/s UPAL Buildtech Private Limited.
The Corporate Debtor, M/s UPAL Buildtech Private Limited, is a corporate guarantor to the principal borrower, M/s Vayuputra Constructions Private Limited.
The Principal Borrower approached the Financial Creditor in 2016 for financial assistance.
A Loan Agreement dated 01.05.2017 was entered into between the Financial Creditor and the Principal Borrower.
The Financial Creditor extended the loan facility for a period of 2 years.
The Financial Creditor sent an Invocation Letter dated 02.08.2023 to the Corporate Debtor and Principal Borrower.
The Principal Borrower has been admitted into CIRP by Order dated 04.12.2024.
…Sign in to view the parties.
The present application…
The co-ordinate bench of this Adjudicating…
M/s Sadhana City Homes Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s UPAL Buildtech Private Limited, the Corporate Debtor.
M/s Sadhana City Homes Private Limited filed a petition under Section 7 of the IBC to initiate CIRP against M/s UPAL Buildtech Private Limited.
The Corporate Debtor, M/s UPAL Buildtech Private Limited, is a corporate guarantor to the principal borrower, M/s Vayuputra Constructions Private Limited.
The Principal Borrower approached the Financial Creditor in 2016 for financial assistance.
A Loan Agreement dated 01.05.2017 was entered into between the Financial Creditor and the Principal Borrower.
The Financial Creditor extended the loan facility for a period of 2 years.
The Financial Creditor sent an Invocation Letter dated 02.08.2023 to the Corporate Debtor and Principal Borrower.
The Principal Borrower has been admitted into CIRP by Order dated 04.12.2024.
…The present application…
The co-ordinate bench of this Adjudicating…