Nupur Finvest Pvt. Ltd., claiming to be a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against IVR Prime IT SEZ Pvt. Ltd., the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Nupur Finvest had granted two loan facilities to IVR Prime IT SEZ, totaling Rs. 3,02,00,000, which were to be repaid in monthly installments with interest. The loans were secured by hypothecation of flats and a guarantee agreement. The corporate debtor defaulted on repayment, leading to the petition.
Nupur Finvest Pvt. Ltd. (the petitioner) claimed to be a financial creditor and filed a petition against IVR Prime IT SEZ Pvt. Ltd. (the respondent/corporate debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. Nupur Finvest had granted two loan facilities to IVR Prime IT SEZ, totaling Rs. 3,02,00,000, based on loan agreements dated 28.01.2016 and 30.03.2017. The loans were to be repaid in 24 monthly installments with 17.50% interest per annum. The loans were secured by hypothecation of 15 flats and a guarantee agreement dated 28.01.2016 executed by Shri Anil Mithas, Smt. Madhu Mithas and M/s Unnati Fortune Holdings Ltd. Post-dated cheques issued by the corporate debtor were dishonored. A demand notice dated 17.02.2018 and its corrigendum dated
…Sign in to view the parties.
IVR Prime IT SEZ Pvt…
One of the loan…
Nupur Finvest Pvt. Ltd., claiming to be a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against IVR Prime IT SEZ Pvt. Ltd., the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Nupur Finvest had granted two loan facilities to IVR Prime IT SEZ, totaling Rs. 3,02,00,000, which were to be repaid in monthly installments with interest. The loans were secured by hypothecation of flats and a guarantee agreement. The corporate debtor defaulted on repayment, leading to the petition.
Nupur Finvest Pvt. Ltd. (the petitioner) claimed to be a financial creditor and filed a petition against IVR Prime IT SEZ Pvt. Ltd. (the respondent/corporate debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. Nupur Finvest had granted two loan facilities to IVR Prime IT SEZ, totaling Rs. 3,02,00,000, based on loan agreements dated 28.01.2016 and 30.03.2017. The loans were to be repaid in 24 monthly installments with 17.50% interest per annum. The loans were secured by hypothecation of 15 flats and a guarantee agreement dated 28.01.2016 executed by Shri Anil Mithas, Smt. Madhu Mithas and M/s Unnati Fortune Holdings Ltd. Post-dated cheques issued by the corporate debtor were dishonored. A demand notice dated 17.02.2018 and its corrigendum dated
…IVR Prime IT SEZ Pvt…
One of the loan…