Alliance Broadband Services Private Limited filed a suit against Manthan Broadband Services Private Limited (in liquidation) seeking a decree for Rs. 11,06,15,68/- and a declaration regarding 77,500 equity shares. The petitioner had disbursed Rs. 6.30 crores to the respondent as an accommodation loan between April and July 2017, secured by a pledge of original share certificates. The respondent also availed another loan of Rs. 10.20 crores. The petitioner filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted by the NCLT. A liquidator was appointed after the initiation of liquidation proceedings against the respondent. The petitioner filed a claim of Rs. 14,47,32,521/- before the liquidator. The liquidator denied the
…Alliance Broadband Services Private Limited (the petitioner) filed a suit against Manthan Broadband Services Private Limited (the respondent, now in liquidation) seeking a decree for Rs. 11,06,15,68/- and a declaration regarding 77,500 equity shares. The petitioner had disbursed Rs. 6.30 crores to the respondent as an accommodation loan between April and July 2017, with an interest rate of 9.75% per annum, secured by a pledge of 77,500 equity shares. The respondent repaid the principal amount on 31.03.2018 and again in April 2018. The respondent availed another loan of Rs. 10.20 crores, agreeing to repay it within 3 months at 9.75% interest, with the pledged shares continuing as security and further security in the form of a mortgage of immovable properties. The
…Sign in to view the parties.
Petitioner disbursed Rs. 6.30 crores to the…
The petitioner filed an application under…
Alliance Broadband Services Private Limited filed a suit against Manthan Broadband Services Private Limited (in liquidation) seeking a decree for Rs. 11,06,15,68/- and a declaration regarding 77,500 equity shares. The petitioner had disbursed Rs. 6.30 crores to the respondent as an accommodation loan between April and July 2017, secured by a pledge of original share certificates. The respondent also availed another loan of Rs. 10.20 crores. The petitioner filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted by the NCLT. A liquidator was appointed after the initiation of liquidation proceedings against the respondent. The petitioner filed a claim of Rs. 14,47,32,521/- before the liquidator. The liquidator denied the
…Alliance Broadband Services Private Limited (the petitioner) filed a suit against Manthan Broadband Services Private Limited (the respondent, now in liquidation) seeking a decree for Rs. 11,06,15,68/- and a declaration regarding 77,500 equity shares. The petitioner had disbursed Rs. 6.30 crores to the respondent as an accommodation loan between April and July 2017, with an interest rate of 9.75% per annum, secured by a pledge of 77,500 equity shares. The respondent repaid the principal amount on 31.03.2018 and again in April 2018. The respondent availed another loan of Rs. 10.20 crores, agreeing to repay it within 3 months at 9.75% interest, with the pledged shares continuing as security and further security in the form of a mortgage of immovable properties. The
…Petitioner disbursed Rs. 6.30 crores to the…
The petitioner filed an application under…