M.M. Kumar, President - (1.) The Gudearth Homes Infracon Private Limited and three others (for brevity 'Financial Creditors') have filed the instant application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') with a prayer for initiation of Insolvency Resolution Process in the matter of Veebro Technoplast Private Limited (for brevity 'the Corporate Debtor'). It is appropriate to mention that Financial Creditor No. 1-M/s. Gudearth Homes Infracon Private Limited is a family-owned company incorporated by Financial Creditor No. 2-Mr. Anuj Guliani & husband of Financial Creditor No. 4-Mr. Anil Kumar Guliani. The Financial Creditor No. 1 is a Company incorporated under the provisions of the Companies Act, 1956. Its CIN number is U45400DL2012PTC240539 and it has its registered office situated at House No. 5, Road No. 8, Punjabi Bagh Extension, New Delhi-110026.
(2.) The Corporate Debtor-respondent is a private limited Company and its authorized share capital is 2,00,000/-. The paid up share capital of the Corporate Debtor is 1,00,000/-. It has two Directors namely Mr. Atul Sharma and Mr. Nipun Sharma. Its CIN number is U51495DL2004PTC126798 and it has its registered office situated at A-1/15, Sector-7, Rohini, New Delhi-110085.
(3.) The case of the Financial Creditors is that Directors of Corporate Debtor were introduced to them through common friends namely Mr. Vinay Lakra and Mr. Kewal Kishan Gupta in the year 2013. At that time, Corporate Debtor needed financial assistance for a short period therefore, Corporate Debtor approached and requested the Financial Creditors to help them out. Thereafter on different dates as per the table mentioned at Part-IV of the application, an amount of Rs. 51,750,000/- was disbursed by the Financial Creditors which included a sum of Rs, 25,00,000 given by one Mr. Vinay Lakra.;