M/s Cadillac Info-Tech Private Limited, claiming to be a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Hallow Infrastructure Private Limited, the corporate debtor. The petitioner claimed to have granted a short-term loan of Rs. 2,00,00,000/- to the corporate debtor, out of which Rs. 60,00,000/- was repaid, leaving an outstanding amount of Rs. 1,40,00,000/-. The petitioner alleged that the total amount in default, including interest, was Rs. 3,02,09,534/- as of the date of filing the petition. The corporate debtor opposed the admission of the petition, arguing that the petitioner was not a financial creditor and that the transaction was
…M/s Cadillac Info-Tech Private Limited (the Petitioner) filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Hallow Infrastructure Private Limited (the Corporate Debtor). The Petitioner claimed to be a financial creditor, asserting that it had granted a short-term loan of Rs. 2,00,00,000/- to the Corporate Debtor for a period of one year. The loan was disbursed via RTGS on 20.07.2013. The Corporate Debtor repaid Rs. 60,00,000/- on 03.03.2014, leaving an outstanding amount of Rs. 1,40,00,000/-. The Petitioner claimed the total amount in default, including interest at 24% p.a., was Rs. 3,02,09,534/- as of the petition filing date. The Corporate Debtor opposed the
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M/s Hallow Infrastructur…
The Petitioner disbursed a short-term loan of…
M/s Cadillac Info-Tech Private Limited, claiming to be a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Hallow Infrastructure Private Limited, the corporate debtor. The petitioner claimed to have granted a short-term loan of Rs. 2,00,00,000/- to the corporate debtor, out of which Rs. 60,00,000/- was repaid, leaving an outstanding amount of Rs. 1,40,00,000/-. The petitioner alleged that the total amount in default, including interest, was Rs. 3,02,09,534/- as of the date of filing the petition. The corporate debtor opposed the admission of the petition, arguing that the petitioner was not a financial creditor and that the transaction was
…M/s Cadillac Info-Tech Private Limited (the Petitioner) filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Hallow Infrastructure Private Limited (the Corporate Debtor). The Petitioner claimed to be a financial creditor, asserting that it had granted a short-term loan of Rs. 2,00,00,000/- to the Corporate Debtor for a period of one year. The loan was disbursed via RTGS on 20.07.2013. The Corporate Debtor repaid Rs. 60,00,000/- on 03.03.2014, leaving an outstanding amount of Rs. 1,40,00,000/-. The Petitioner claimed the total amount in default, including interest at 24% p.a., was Rs. 3,02,09,534/- as of the petition filing date. The Corporate Debtor opposed the
…M/s Hallow Infrastructur…
The Petitioner disbursed a short-term loan of…