The case involves an application filed by 44 Noida Infratech (Two) Private Limited, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Falcon Consultancy Private Limited, the Corporate Debtor, due to a default in repayment of a loan amounting to Rs. 45,20,00,000/-. The Financial Creditor and Corporate Debtor entered into a loan agreement on 01.12.2012, where the Corporate Debtor agreed to mortgage its self-acquired properties and provide corporate guarantees of its 19 sister concerns to secure the loan. A facilitation agreement was also executed on 01.12.2012 to transfer the loan amount. A power of attorney was executed, appointing the Financial Creditor as attorney holder of
…44 Noida Infratech (Two) Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Falcon Consultancy Private Limited (Corporate Debtor) due to a default in loan repayment. The loan agreement, dated 01.12.2012, stipulated a loan amount of Rs. 30 crores, later totaling Rs. 45,20,00,000/- inclusive of interest and charges. The Corporate Debtor agreed to mortgage properties and provide corporate guarantees. A facilitation agreement was executed on 01.12.2012 to transfer the loan. A power of attorney was granted to the Financial Creditor over 51% of the Corporate Debtor's sister concerns' shares. Addenda to the loan agreement were executed on 28.12.2012 and 07.02.2013. The Corporate Debtor defaulted on
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Loan agreement executed between 44 Noida…
Facilitation agreement executed to…
The case involves an application filed by 44 Noida Infratech (Two) Private Limited, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Falcon Consultancy Private Limited, the Corporate Debtor, due to a default in repayment of a loan amounting to Rs. 45,20,00,000/-. The Financial Creditor and Corporate Debtor entered into a loan agreement on 01.12.2012, where the Corporate Debtor agreed to mortgage its self-acquired properties and provide corporate guarantees of its 19 sister concerns to secure the loan. A facilitation agreement was also executed on 01.12.2012 to transfer the loan amount. A power of attorney was executed, appointing the Financial Creditor as attorney holder of
…44 Noida Infratech (Two) Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Falcon Consultancy Private Limited (Corporate Debtor) due to a default in loan repayment. The loan agreement, dated 01.12.2012, stipulated a loan amount of Rs. 30 crores, later totaling Rs. 45,20,00,000/- inclusive of interest and charges. The Corporate Debtor agreed to mortgage properties and provide corporate guarantees. A facilitation agreement was executed on 01.12.2012 to transfer the loan. A power of attorney was granted to the Financial Creditor over 51% of the Corporate Debtor's sister concerns' shares. Addenda to the loan agreement were executed on 28.12.2012 and 07.02.2013. The Corporate Debtor defaulted on
…Loan agreement executed between 44 Noida…
Facilitation agreement executed to…