Macro Leafin Pvt. Ltd., the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Dhrovv India Ltd., the corporate debtor. The application was based on a default in repayment of an unsecured loan of Rs. 35,00,000/- extended by the financial creditor to the corporate debtor, along with interest. The loan agreement was dated 05.04.2010, and a renewal agreement was executed on 15.02.2016. The corporate debtor defaulted in making payments, leading to the application for CIRP.
Macro Leafin Pvt. Ltd. extended an unsecured loan of Rs. 35,00,000 to Dhrovv India Ltd. as per a loan agreement dated 05.04.2010. The loan was to be repaid by 31.03.2013. Due to financial difficulties, Dhrovv India Ltd. could not repay the loan and requested a revival. A balance confirmation-cum-revival letter was sent by Macro Leafin Pvt. Ltd. on 28.03.2013 and acknowledged by Dhrovv India Ltd. A renewal of the loan agreement was executed on 15.02.2016, with Dhrovv India Ltd. acknowledging the Rs. 35,00,000 loan plus 15% interest. The amount became due on 30.11.2017. Macro Leafin Pvt. Ltd. transferred Rs. 10,00,000 on 13.04.2010, Rs. 10,00,000 on 19.04.2010, and Rs. 15,00,000 on 26.05.2010. Dhrovv India Ltd. defaulted, and Macro Leafin Pvt. Ltd. issued a letter on
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Loan agreement between Macro Leafin Pvt. Ltd.…
Macro Leafin Pvt. Ltd.…
Macro Leafin Pvt. Ltd., the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Dhrovv India Ltd., the corporate debtor. The application was based on a default in repayment of an unsecured loan of Rs. 35,00,000/- extended by the financial creditor to the corporate debtor, along with interest. The loan agreement was dated 05.04.2010, and a renewal agreement was executed on 15.02.2016. The corporate debtor defaulted in making payments, leading to the application for CIRP.
Macro Leafin Pvt. Ltd. extended an unsecured loan of Rs. 35,00,000 to Dhrovv India Ltd. as per a loan agreement dated 05.04.2010. The loan was to be repaid by 31.03.2013. Due to financial difficulties, Dhrovv India Ltd. could not repay the loan and requested a revival. A balance confirmation-cum-revival letter was sent by Macro Leafin Pvt. Ltd. on 28.03.2013 and acknowledged by Dhrovv India Ltd. A renewal of the loan agreement was executed on 15.02.2016, with Dhrovv India Ltd. acknowledging the Rs. 35,00,000 loan plus 15% interest. The amount became due on 30.11.2017. Macro Leafin Pvt. Ltd. transferred Rs. 10,00,000 on 13.04.2010, Rs. 10,00,000 on 19.04.2010, and Rs. 15,00,000 on 26.05.2010. Dhrovv India Ltd. defaulted, and Macro Leafin Pvt. Ltd. issued a letter on
…Loan agreement between Macro Leafin Pvt. Ltd.…
Macro Leafin Pvt. Ltd.…