This case involves an application filed by Vaikunth Motor Finance Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Endless Properties Private Limited, the Corporate Debtor, due to a default in payment of an operational debt amounting to Rs. 25,66,301. The Operational Creditor claims that the Corporate Debtor failed to pay the outstanding debt despite repeated requests and reminders. The debt arose from the sale of equity shares by the Operational Creditor to the Corporate Debtor.
Vaikunth Motor Finance Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Endless Properties Private Limited (Corporate Debtor). The application was based on a default in payment of an operational debt amounting to Rs. 25,66,301. The debt arose from the sale of 5,00,000 equity shares of Navketan Merchants Limited by the Operational Creditor to the Corporate Debtor. The Operational Creditor had transferred the equity shares to the Demat Account maintained by the Corporate Debtor on 03.03.2017. The Operational Creditor maintained a ledger account of the Corporate Debtor from 03.03.2017 to 21.01.2019. Despite repeated requests, the debt
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Operational Creditor transferred equity…
Invoice raised by the…
This case involves an application filed by Vaikunth Motor Finance Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Endless Properties Private Limited, the Corporate Debtor, due to a default in payment of an operational debt amounting to Rs. 25,66,301. The Operational Creditor claims that the Corporate Debtor failed to pay the outstanding debt despite repeated requests and reminders. The debt arose from the sale of equity shares by the Operational Creditor to the Corporate Debtor.
Vaikunth Motor Finance Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Endless Properties Private Limited (Corporate Debtor). The application was based on a default in payment of an operational debt amounting to Rs. 25,66,301. The debt arose from the sale of 5,00,000 equity shares of Navketan Merchants Limited by the Operational Creditor to the Corporate Debtor. The Operational Creditor had transferred the equity shares to the Demat Account maintained by the Corporate Debtor on 03.03.2017. The Operational Creditor maintained a ledger account of the Corporate Debtor from 03.03.2017 to 21.01.2019. Despite repeated requests, the debt
…Operational Creditor transferred equity…
Invoice raised by the…