M/s. Embassy Services Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Redwoods Infrastructure Private Limited, the Corporate Debtor, for a total outstanding amount of Rs. 2,16,03,836.
The Financial Creditor, M/s. Embassy Services Private Limited, filed a petition under Section 7 of the IBC to initiate CIRP against the Corporate Debtor, M/s. Redwoods Infrastructure Private Limited.
The total outstanding amount claimed was Rs. 2,16,03,836, including a principal amount of Rs. 1,00,00,000 and interest.
The Date of Default was 19.05.2023 as mentioned in Part IV of Form No. 1 filed with the Petition.
The Corporate Debtor had sought financial assistance from the Financial Creditor to expand its business, leading to a loan agreement on 25.10.2016.
The loan agreement stipulated repayment within 6 months, later extended to 31.12.2020.
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The Financial Creditor and the Corporate Debtor…
The Corporate Debtor also provided a Demand…
M/s. Embassy Services Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Redwoods Infrastructure Private Limited, the Corporate Debtor, for a total outstanding amount of Rs. 2,16,03,836.
The Financial Creditor, M/s. Embassy Services Private Limited, filed a petition under Section 7 of the IBC to initiate CIRP against the Corporate Debtor, M/s. Redwoods Infrastructure Private Limited.
The total outstanding amount claimed was Rs. 2,16,03,836, including a principal amount of Rs. 1,00,00,000 and interest.
The Date of Default was 19.05.2023 as mentioned in Part IV of Form No. 1 filed with the Petition.
The Corporate Debtor had sought financial assistance from the Financial Creditor to expand its business, leading to a loan agreement on 25.10.2016.
The loan agreement stipulated repayment within 6 months, later extended to 31.12.2020.
…The Financial Creditor and the Corporate Debtor…
The Corporate Debtor also provided a Demand…