The Financial Creditor No.1 entered into an Inter-Corporate Deposit Agreement with the Corporate Debtor on March 28, 2018, and Financial Creditor No.2 entered into another ICD Agreement on March 31, 2018. Under these agreements, the Financial Creditors disbursed interest-free ICDs totaling Rs. 22 crore to the Corporate Debtor. The terms of these ICDs stipulated a repayment period of 24 months from the date of execution.

The repayment dates for these ICDs were March 27, 2020, and March 30, 2020, respectively. The Financial Creditors subsequently sent multiple letters and notices to the Corporate Debtor demanding repayment of Rs. 11 crore each, citing defaults in repayment of the ICDs. However, no repayments were made by the Corporate Debtor.

The Financial Creditor No.1 entered into an Inter-Corporate Deposit Agreement with the Corporate Debtor on March 28, 2018, and Financial Creditor No.2 entered into another ICD Agreement on March 31, 2018. Under these agreements, the Financial Creditors disbursed interest-free ICDs totaling Rs. 22 crore to the Corporate Debtor. The terms of these ICDs stipulated a repayment period of 24 months from the date of execution.

The repayment dates for these ICDs were March 27, 2020, and March 30, 2020, respectively. The Financial Creditors subsequently sent multiple letters and notices to the Corporate Debtor demanding repayment of Rs. 11 crore each, citing defaults in repayment of the ICDs. However, no repayments were made by the Corporate Debtor.