Borojalingah Tea Company, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Imeco Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying a financial debt of Rs. 7,59,136/-. The Financial Creditor disbursed a loan of Rs. 10,00,000/- to the Corporate Debtor on 02.04.2018, at an interest rate of 12% per annum, with an agreement to repay within 180 days, which was not fulfilled.
Borojalingah Tea Company, a Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Imeco Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on a financial debt of Rs. 7,59,136/-. On 02.04.2018, the Financial Creditor disbursed a loan of Rs. 10,00,000/- to the Corporate Debtor at an interest rate of 12% per annum, with a repayment agreement within 180 days. The Corporate Debtor failed to repay the loan as agreed. The Corporate Debtor, represented by Mr. Ramesh Kr. Sharma, denied the liability and claimed no default. The Financial Creditor produced evidence of the debt, including a disbursement letter dated
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The Financial Creditor…
Corporate Debtor…
Borojalingah Tea Company, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Imeco Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying a financial debt of Rs. 7,59,136/-. The Financial Creditor disbursed a loan of Rs. 10,00,000/- to the Corporate Debtor on 02.04.2018, at an interest rate of 12% per annum, with an agreement to repay within 180 days, which was not fulfilled.
Borojalingah Tea Company, a Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Imeco Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on a financial debt of Rs. 7,59,136/-. On 02.04.2018, the Financial Creditor disbursed a loan of Rs. 10,00,000/- to the Corporate Debtor at an interest rate of 12% per annum, with a repayment agreement within 180 days. The Corporate Debtor failed to repay the loan as agreed. The Corporate Debtor, represented by Mr. Ramesh Kr. Sharma, denied the liability and claimed no default. The Financial Creditor produced evidence of the debt, including a disbursement letter dated
…The Financial Creditor…
Corporate Debtor…