An application was jointly filed by Mr. Achhru Ram Jindal and 25 other Financial Creditors under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Zebyte Rental Planet Private Limited (Corporate Debtor). The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to a financial debt of Rs. 1,63,99,544.77, with the date of default being 31.10.2024. The debt arose from a sale and leaseback arrangement of cloud storage units, structured through an Asset Sale and Partner Programme Agreement (ASA) and an Asset Monetising Program Agreement (AMPA), which the Financial Creditors argued constituted a financial lease.
An application was jointly filed on 14.10.2025 by Mr. Achhru Ram Jindal and 25 Others as Applicants/Financial Creditors.
The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Zebyte Rental Planet Private Limited (Corporate Debtor).
The total financial debt claimed is Rs. 1,63,99,544.77.
The date of default was declared as 31.10.2024, being the first date of default.
The Corporate Debtor and its associate company M/s Vuenow Marketing Services Limited (VMSL/Seller) entered into two agreements with the Applicants/Financial Creditors.
The agreements were an Asset Sale and Partner Programme Agreement (ASA) and an Asset Monetising Program Agreement (AMPA).
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The Corporate Debtor failed to make monthly…
Applicants served a…
An application was jointly filed by Mr. Achhru Ram Jindal and 25 other Financial Creditors under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Zebyte Rental Planet Private Limited (Corporate Debtor). The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to a financial debt of Rs. 1,63,99,544.77, with the date of default being 31.10.2024. The debt arose from a sale and leaseback arrangement of cloud storage units, structured through an Asset Sale and Partner Programme Agreement (ASA) and an Asset Monetising Program Agreement (AMPA), which the Financial Creditors argued constituted a financial lease.
An application was jointly filed on 14.10.2025 by Mr. Achhru Ram Jindal and 25 Others as Applicants/Financial Creditors.
The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Zebyte Rental Planet Private Limited (Corporate Debtor).
The total financial debt claimed is Rs. 1,63,99,544.77.
The date of default was declared as 31.10.2024, being the first date of default.
The Corporate Debtor and its associate company M/s Vuenow Marketing Services Limited (VMSL/Seller) entered into two agreements with the Applicants/Financial Creditors.
The agreements were an Asset Sale and Partner Programme Agreement (ASA) and an Asset Monetising Program Agreement (AMPA).
…The Corporate Debtor failed to make monthly…
Applicants served a…