Good Value Financial Services Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against ARK Landscapes LLP, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on the alleged default in repayment of ₹17,00,000/- against principal and ₹15,45,255/- against interest as of 31.03.2018, with the date of default mentioned as 12.08.2017. The petitioner claimed to have advanced a loan of ₹17,00,000/- on 30.07.2014, with repayment due within three months at 18% interest, and a default interest of 24% p.a., leading to a total claim of ₹34,34,242/- as on 02.08.2017.
Good Value Financial Services Private Limited (the Petitioner) claimed to have advanced a loan of ₹17,00,000/- to ARK Landscapes LLP (the Corporate Debtor) on 30.07.2014. The Petitioner stated that the repayment was due within three months at 18% interest, with a default interest of 24% p.a. The Petitioner filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on the alleged default in repayment. As of 31.03.2018, the Corporate Debtor allegedly defaulted in making repayment of ₹17,00,000/- against principal and ₹15,45,255/- against interest. The date of default in repayment of the debt by the Corporate Debtor is mentioned as 12.08.2017. The
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Good Value Financial Services Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against ARK Landscapes LLP, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was based on the alleged default in repayment of ₹17,00,000/- against principal and ₹15,45,255/- against interest as of 31.03.2018, with the date of default mentioned as 12.08.2017. The petitioner claimed to have advanced a loan of ₹17,00,000/- on 30.07.2014, with repayment due within three months at 18% interest, and a default interest of 24% p.a., leading to a total claim of ₹34,34,242/- as on 02.08.2017.
Good Value Financial Services Private Limited (the Petitioner) claimed to have advanced a loan of ₹17,00,000/- to ARK Landscapes LLP (the Corporate Debtor) on 30.07.2014. The Petitioner stated that the repayment was due within three months at 18% interest, with a default interest of 24% p.a. The Petitioner filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on the alleged default in repayment. As of 31.03.2018, the Corporate Debtor allegedly defaulted in making repayment of ₹17,00,000/- against principal and ₹15,45,255/- against interest. The date of default in repayment of the debt by the Corporate Debtor is mentioned as 12.08.2017. The
…Petitioner advanced a…
Petitioner sent a…