K.K Capital Services Limited, the Appellant, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Sristi Hospitality Private Limited, the Corporate Debtor, for an operational debt. The Adjudicating Authority (National Company Law Tribunal) Mumbai Bench rejected the application, stating that the Appellant's claim fell within the ambit of a disputed claim. The Appellant is in the business of Financial Advisor and Legal Consultancy Services. The Corporate Debtor had a running loan account with JMFARC but was under financial stress due to high interest. The Corporate Debtor approached the Appellant to find another bank or NBFC to take over the loan. A mandate/agreement was signed between the Appellant and Corporate Debtor on 2016-03-09,
…K.K Capital Services Limited (Appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Sristi Hospitality Private Limited (Corporate Debtor) for an operational debt. The Adjudicating Authority rejected the application, stating the claim fell under a disputed claim. The Appellant is a Financial Advisor and Legal Consultancy Services provider. The Corporate Debtor had a loan account with JMFARC but faced financial stress due to high interest. The Corporate Debtor asked the Appellant to find another bank/NBFC. A mandate agreement was signed on 2016-03-09, stating Rs. 57.5 Lakhs would be paid to the Appellant upon successful loan sanction. The Appellant secured loan approval from Indiabulls, which was 10% cheaper. The
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K.K Capital Services Limited, the Appellant, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Sristi Hospitality Private Limited, the Corporate Debtor, for an operational debt. The Adjudicating Authority (National Company Law Tribunal) Mumbai Bench rejected the application, stating that the Appellant's claim fell within the ambit of a disputed claim. The Appellant is in the business of Financial Advisor and Legal Consultancy Services. The Corporate Debtor had a running loan account with JMFARC but was under financial stress due to high interest. The Corporate Debtor approached the Appellant to find another bank or NBFC to take over the loan. A mandate/agreement was signed between the Appellant and Corporate Debtor on 2016-03-09,
…K.K Capital Services Limited (Appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Sristi Hospitality Private Limited (Corporate Debtor) for an operational debt. The Adjudicating Authority rejected the application, stating the claim fell under a disputed claim. The Appellant is a Financial Advisor and Legal Consultancy Services provider. The Corporate Debtor had a loan account with JMFARC but faced financial stress due to high interest. The Corporate Debtor asked the Appellant to find another bank/NBFC. A mandate agreement was signed on 2016-03-09, stating Rs. 57.5 Lakhs would be paid to the Appellant upon successful loan sanction. The Appellant secured loan approval from Indiabulls, which was 10% cheaper. The
…A mandate/agreement was signed between the…
The Appellant raised an…