The case involves a Company Petition filed by Wincere Inc. and Himanshu P. Kansara under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Cybermate Infotek Limited, the Corporate Debtor. The Financial Creditors claim that the Corporate Debtor availed a loan of Rs. 2,50,00,000/- on different dates from a related concern, Wincere Solutions India Private Limited. A loan agreement dated 31.08.2013 was entered into, where the Corporate Debtor agreed to repay Rs. 4,45,11,110/- with interest. A settlement deed dated 07.09.2016 was also executed, promising repayment by December 31, 2016. The Corporate Debtor issued a cheque for Rs. 3,87,00,000/- dated 20.03.2017, which was later dishonored.
…Wincere Inc. and Himanshu P. Kansara filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Cybermate Infotek Limited. The Financial Creditors claimed that the Corporate Debtor availed a loan of Rs. 2,50,00,000/- on different dates from Wincere Solutions India Private Limited. A loan agreement dated 31.08.2013 was entered into, where the Corporate Debtor agreed to repay Rs. 4,45,11,110/- with interest. A settlement deed dated 07.09.2016 was executed, promising repayment by December 31, 2016. The Corporate Debtor issued a cheque for Rs. 3,87,00,000/- dated 20.03.2017, which was later dishonored. The Corporate Debtor opposed the petition, claiming lack of privity of
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Loan agreement entered into by the Corporate…
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The case involves a Company Petition filed by Wincere Inc. and Himanshu P. Kansara under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Cybermate Infotek Limited, the Corporate Debtor. The Financial Creditors claim that the Corporate Debtor availed a loan of Rs. 2,50,00,000/- on different dates from a related concern, Wincere Solutions India Private Limited. A loan agreement dated 31.08.2013 was entered into, where the Corporate Debtor agreed to repay Rs. 4,45,11,110/- with interest. A settlement deed dated 07.09.2016 was also executed, promising repayment by December 31, 2016. The Corporate Debtor issued a cheque for Rs. 3,87,00,000/- dated 20.03.2017, which was later dishonored.
…Wincere Inc. and Himanshu P. Kansara filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Cybermate Infotek Limited. The Financial Creditors claimed that the Corporate Debtor availed a loan of Rs. 2,50,00,000/- on different dates from Wincere Solutions India Private Limited. A loan agreement dated 31.08.2013 was entered into, where the Corporate Debtor agreed to repay Rs. 4,45,11,110/- with interest. A settlement deed dated 07.09.2016 was executed, promising repayment by December 31, 2016. The Corporate Debtor issued a cheque for Rs. 3,87,00,000/- dated 20.03.2017, which was later dishonored. The Corporate Debtor opposed the petition, claiming lack of privity of
…Loan agreement entered into by the Corporate…
Settlement deed executed between the Financial…