Samriddhi Mega Structures Limited filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Zexus Air Services Pvt. Ltd. for default in repayment of a financial debt of ₹2,63,08,618/-. The Corporate Debtor opposed the application, alleging misstatements, concealment of facts, and that the transactions were sham.
Samriddhi Mega Structures Limited filed a Section 7 application to initiate CIRP against Zexus Air Services Pvt. Ltd.
The alleged financial debt was ₹2,63,08,618/-.
Ramesh Dugar was a Director in both Samriddhi Mega Structures Limited and Zexus Air Services Pvt. Ltd.
Zexus Air Services Pvt. Ltd. claimed the transactions were sham and the petition was replete with misstatements.
The Corporate Debtor transferred consideration amount towards acquisition of shares to the account of the Financial Creditor, acting as the nominee of Late Shri Kaushik.
FIR No. 062 dated 07.05.2025 has been registered at PS EOW, Delhi under Sections 406, 409, 420, and 120B of the IPC against the Financial Creditor and its Director, Mr. Ramesh Duggar.
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Samriddhi Mega Structures Limited filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Zexus Air Services Pvt. Ltd. for default in repayment of a financial debt of ₹2,63,08,618/-. The Corporate Debtor opposed the application, alleging misstatements, concealment of facts, and that the transactions were sham.
Samriddhi Mega Structures Limited filed a Section 7 application to initiate CIRP against Zexus Air Services Pvt. Ltd.
The alleged financial debt was ₹2,63,08,618/-.
Ramesh Dugar was a Director in both Samriddhi Mega Structures Limited and Zexus Air Services Pvt. Ltd.
Zexus Air Services Pvt. Ltd. claimed the transactions were sham and the petition was replete with misstatements.
The Corporate Debtor transferred consideration amount towards acquisition of shares to the account of the Financial Creditor, acting as the nominee of Late Shri Kaushik.
FIR No. 062 dated 07.05.2025 has been registered at PS EOW, Delhi under Sections 406, 409, 420, and 120B of the IPC against the Financial Creditor and its Director, Mr. Ramesh Duggar.
Order delivered by the…
Share Purchase…