: Saturday, May 15, 2021, 10:49 PM IST
Mumbai: NCLT issues Insolvency Resolution Process against Wizcraft as principal loan borrower fails to repay Rs 60 cr
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The National Company Law Tribunal (NCLT) on Monday admitted a petition filed by IDBI Bank Ltd. seeking to invoke Insolvency and Bankruptcy proceedings against Wizcraft International Entertainment Private Limited for failing to pay around Rs 60 crore, an amount, which the original loan borrower - Great Indian Nautanki Company Private Limited (GINCL) failed to pay.
The bank alleged that Wizcraft being the corporate guarantor to the loan it granted to GINCL had issued an unconditional and unrecoverable Corporate Guarantee by which it undertook to pay forthwith upon demand without any demur all amounts payable by the borrower - GINCL. The bank even issued proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, in this matter.
Property rates in Gurugram rise as circle rates hiked
By IANS |
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Hero Honda chowk in Gurgaon.. Image Source: IANS News
Gurugram, April 8 : Buyers in Gurugram now will have to spend extra money while purchasing properties in upscale condominiums, licensed colonies and builder floors at the Haryana Shahari Vikas Pradhikaran (HSVP) sectors. The district administration has increased the circle rates for 2021-22, which come into force from Thursday.
The rate of an upscale condominium like DLF Aralias, Magnolias and Camellias on Golf course Road has seen the steepest increase which have been increased by 25 per cent from Rs 20,000 to Rs 25,000 per square feet. At the same time, the rate of flats of more than a dozen multi-storey societies at Sohna Road, MG Road and Golf course Road have also been increased from Rs 8,000 to Rs 9,000 per square feet.
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Buying property in Gurugram gets costlier as circle rates hiked
Buyers in Gurugram now will have to spend extra money while purchasing properties in upscale condominiums, licensed colonies and builder floors at the Haryana Shahari Vikas Pradhikaran (HSVP) sectors. The district administration has increased the circle rates for 2021-22, which come into force from Thursday.
The rate of an upscale condominium like DLF Aralias, Magnolias and Camellias on Golf course Road has seen the steepest increase which have been increased by 25 per cent from Rs 20,000 to Rs 25,000 per square feet. At the same time, the rate of flats of more than a dozen multi-storey societies at Sohna Road, MG Road and Golf course Road have also been increased from Rs 8,000 to Rs 9,000 per square feet.