An application was filed by Anjali Capfin Private Limited, the Financial Creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Primuss Pipes & Tubes Limited, the Corporate Debtor.
The Financial Creditor, Anjali Capfin Private Limited, provided financial assistance to the Corporate Debtor, Primuss Pipes & Tubes Limited, in the form of an unsecured loan of Rs. 2,25,00,000/-.
The loan carried an interest rate of 2% per month and was to be repaid on demand.
The amount was disbursed by the Financial Creditor through NEFT on 06.03.2019 and acknowledged by the Corporate Debtor.
The Financial Creditor received an amount of ₹4,50,000/- on 08.03.2019 as an interest payment from the Corporate Debtor.
The Corporate Debtor issued cheques for repayment of the unsecured loan, which were dishonored when presented by the Financial Creditor.
The Financial Creditor initiated criminal proceedings under the Negotiable Instruments Act, 1881, due to the dishonored cheques.
…Sign in to view the parties.
The Financial Creditor…
The Financial Creditor received an interest…
An application was filed by Anjali Capfin Private Limited, the Financial Creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Primuss Pipes & Tubes Limited, the Corporate Debtor.
The Financial Creditor, Anjali Capfin Private Limited, provided financial assistance to the Corporate Debtor, Primuss Pipes & Tubes Limited, in the form of an unsecured loan of Rs. 2,25,00,000/-.
The loan carried an interest rate of 2% per month and was to be repaid on demand.
The amount was disbursed by the Financial Creditor through NEFT on 06.03.2019 and acknowledged by the Corporate Debtor.
The Financial Creditor received an amount of ₹4,50,000/- on 08.03.2019 as an interest payment from the Corporate Debtor.
The Corporate Debtor issued cheques for repayment of the unsecured loan, which were dishonored when presented by the Financial Creditor.
The Financial Creditor initiated criminal proceedings under the Negotiable Instruments Act, 1881, due to the dishonored cheques.
…The Financial Creditor…
The Financial Creditor received an interest…