Drip Capital Inc. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Janshank Impex Private Limited, the Corporate Debtor. The application was based on a default of USD 2,00,000, with the date of default stated as 20.01.2020. Drip Capital Inc. had disbursed USD 2,00,000 to Janshank Impex Private Limited towards assignment of two invoices, pursuant to a term sheet letter dated 24.07.2019 and a Full Recourse Purchase and Security Agreement dated 10.09.2019. Drip Capital Inc. claimed that Janshank Impex Private Limited was liable to pay the financial debt along with accrued interest and charges if the buyers of the goods failed to pay Drip Capital Inc. on the invoice due
…Drip Capital Inc., a financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Janshank Impex Private Limited, the corporate debtor. The application was based on a default of USD 2,00,000, with the date of default stated as 20.01.2020. Drip Capital Inc. had disbursed USD 2,00,000 to Janshank Impex Private Limited towards assignment of two invoices, pursuant to a term sheet letter dated 24.07.2019 and a Full Recourse Purchase and Security Agreement dated 10.09.2019. Drip Capital Inc. claimed that Janshank Impex Private Limited was liable to pay the financial debt along with accrued interest and charges if the buyers of the goods failed to pay Drip Capital Inc.
…Sign in to view the parties.
Term sheet letter…
Full Recourse Purchase and Security Agreement…
Drip Capital Inc. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Janshank Impex Private Limited, the Corporate Debtor. The application was based on a default of USD 2,00,000, with the date of default stated as 20.01.2020. Drip Capital Inc. had disbursed USD 2,00,000 to Janshank Impex Private Limited towards assignment of two invoices, pursuant to a term sheet letter dated 24.07.2019 and a Full Recourse Purchase and Security Agreement dated 10.09.2019. Drip Capital Inc. claimed that Janshank Impex Private Limited was liable to pay the financial debt along with accrued interest and charges if the buyers of the goods failed to pay Drip Capital Inc. on the invoice due
…Drip Capital Inc., a financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Janshank Impex Private Limited, the corporate debtor. The application was based on a default of USD 2,00,000, with the date of default stated as 20.01.2020. Drip Capital Inc. had disbursed USD 2,00,000 to Janshank Impex Private Limited towards assignment of two invoices, pursuant to a term sheet letter dated 24.07.2019 and a Full Recourse Purchase and Security Agreement dated 10.09.2019. Drip Capital Inc. claimed that Janshank Impex Private Limited was liable to pay the financial debt along with accrued interest and charges if the buyers of the goods failed to pay Drip Capital Inc.
…Term sheet letter…
Full Recourse Purchase and Security Agreement…