Rachel L. Chand, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Bhasin Infotech & Infrastructure Private Limited, the Corporate Debtor. The Financial Creditor claimed a default on a financial debt granted to the Corporate Debtor. The Corporate Debtor opposed the application, arguing that the amount claimed was part consideration for a unit and not a time value of money. The Financial Creditor had placed on record copies of the letter of allotment, letter issued by the respondent, and legal notice sent on behalf of the applicant to the respondent.
Rachel L. Chand, the 'Financial Creditor', filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Bhasin Infotech & Infrastructure Private Limited, the 'Corporate Debtor'. The Financial Creditor claimed a default on a financial debt. The Corporate Debtor was incorporated on 23.05.2006. The Financial Creditor granted a financial debt to the Corporate Debtor, and details of the disbursement were provided in the application. The principal amount in default as on 19.09.2015 was claimed to be Rs. 78,40,798.76/-. The Financial Creditor also placed on record copies of the letter of allotment dated 27.04.2010, letter dated 19.09.2015 issued by the respondent, and legal notice
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Bhasin Infotech &…
Letter of all…
Rachel L. Chand, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Bhasin Infotech & Infrastructure Private Limited, the Corporate Debtor. The Financial Creditor claimed a default on a financial debt granted to the Corporate Debtor. The Corporate Debtor opposed the application, arguing that the amount claimed was part consideration for a unit and not a time value of money. The Financial Creditor had placed on record copies of the letter of allotment, letter issued by the respondent, and legal notice sent on behalf of the applicant to the respondent.
Rachel L. Chand, the 'Financial Creditor', filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Bhasin Infotech & Infrastructure Private Limited, the 'Corporate Debtor'. The Financial Creditor claimed a default on a financial debt. The Corporate Debtor was incorporated on 23.05.2006. The Financial Creditor granted a financial debt to the Corporate Debtor, and details of the disbursement were provided in the application. The principal amount in default as on 19.09.2015 was claimed to be Rs. 78,40,798.76/-. The Financial Creditor also placed on record copies of the letter of allotment dated 27.04.2010, letter dated 19.09.2015 issued by the respondent, and legal notice
…Bhasin Infotech &…
Letter of all…