Kotak Securities has also made Sebi a party in the case. The division bench of Justice GS Kulkarni and Justice Jitendra Jain has allowed all the respondents to file their responses in the case and has posted the hearing for January 16. As per the court s website, Kotak Sec filed the case on November 24.
Future Retail: In February 2017, L&T Finance had sanctioned a loan of Rs 200 crore in favour of the original borrowing entity Kaa Vee Retail Infra, which was later merged with Precision Realty Developers.
The financial creditor had moved the bankruptcy court against the property developer following a default of nearly Rs 119 crore. In February 2017, L&T Finance had sanctioned a loan of Rs 200 crore in favour of the original borrowing entity Kaa Vee Retail Infra, which was later merged with Precision Realty Developers.
According to the ARC, Neptune Ventures owes it ₹402 crore. At the tribunal, the developer opposed the petition on the ground of limitation, as it was filed in July 2022, more than three years from the date of a payment default.
A division bench of Justices KR Shriram and Arif Saleh Doctor, irked by absence of a police officer to show compliance of its earlier order for tracing absconding Rajen and Hiren Dhruv, had imposed a cost of Rs 25,000 on the CP.