The appeal was filed by the Suspended Director of Evyavan Merchantile Private Limited against the order dated 02.11.2023 passed by the National Company Law Tribunal, Mumbai Bench, Court-V, whereby the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Ashika Global Securities Private Limited (Financial Creditor), was allowed, and Evyavan Merchantile Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP). The Financial Creditor is a Non-Banking Financial Company engaged in financing and investment activities. The Corporate Debtor was disbursed Rs. 7 crores between 18.08.2016 and 31.03.2017, and repaid Rs. 1.90 crore between 23.08.2016 and 04.07.2018. The Corporate Debtor also deducted TDS,
…Ashika Global Securities Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Evyavan Merchantile Private Limited (Corporate Debtor). The Financial Creditor, a Non-Banking Financial Company, disbursed Rs. 7 crores to the Corporate Debtor between 18.08.2016 and 31.03.2017. The Corporate Debtor repaid Rs. 1.90 crore between 23.08.2016 and 04.07.2018. The Corporate Debtor also deducted TDS, which was reflected in Form 26AS. The Appellant, the Suspended Director of the Corporate Debtor, argued that there was no loan agreement and that the application was time-barred. The total debt and interest payable as of 31.03.2022 amounted to Rs. 7,81,73,014/-. The Corporate Debtor acknowledged the debt in the
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Rs. 1,00,00,000/-…
Rs. 1,00,00,000/-…
The appeal was filed by the Suspended Director of Evyavan Merchantile Private Limited against the order dated 02.11.2023 passed by the National Company Law Tribunal, Mumbai Bench, Court-V, whereby the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Ashika Global Securities Private Limited (Financial Creditor), was allowed, and Evyavan Merchantile Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP). The Financial Creditor is a Non-Banking Financial Company engaged in financing and investment activities. The Corporate Debtor was disbursed Rs. 7 crores between 18.08.2016 and 31.03.2017, and repaid Rs. 1.90 crore between 23.08.2016 and 04.07.2018. The Corporate Debtor also deducted TDS,
…Ashika Global Securities Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Evyavan Merchantile Private Limited (Corporate Debtor). The Financial Creditor, a Non-Banking Financial Company, disbursed Rs. 7 crores to the Corporate Debtor between 18.08.2016 and 31.03.2017. The Corporate Debtor repaid Rs. 1.90 crore between 23.08.2016 and 04.07.2018. The Corporate Debtor also deducted TDS, which was reflected in Form 26AS. The Appellant, the Suspended Director of the Corporate Debtor, argued that there was no loan agreement and that the application was time-barred. The total debt and interest payable as of 31.03.2022 amounted to Rs. 7,81,73,014/-. The Corporate Debtor acknowledged the debt in the
…Rs. 1,00,00,000/-…
Rs. 1,00,00,000/-…