Vivid Colors Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Jenson & Nicholson (India) Ltd., the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor defaulted on loan repayments amounting to INR 2,95,46,76,776/-. The Corporate Debtor admitted to the outstanding debt in their balance sheet and confirmation letter.
Vivid Colors Private Limited (Financial Creditor) filed a petition against Jenson & Nicholson (India) Ltd. (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted on loan repayments. The total debt granted to the Corporate Debtor was INR 60,54,35,886/- originally taken from banks, financial institutions, and other lenders, but assigned to the Financial Creditor. Additionally, INR 32,23,75,000/- was directly granted by the Financial Creditor. The Corporate Debtor made partial payments, acknowledging the debt. The principal amount of the loan was INR 927,810,886/-, with accrued interest bringing the total to INR 2,026,865,890/-. After
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Judgement/…
Order of moratorium shall have effect from…
Vivid Colors Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Jenson & Nicholson (India) Ltd., the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor defaulted on loan repayments amounting to INR 2,95,46,76,776/-. The Corporate Debtor admitted to the outstanding debt in their balance sheet and confirmation letter.
Vivid Colors Private Limited (Financial Creditor) filed a petition against Jenson & Nicholson (India) Ltd. (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted on loan repayments. The total debt granted to the Corporate Debtor was INR 60,54,35,886/- originally taken from banks, financial institutions, and other lenders, but assigned to the Financial Creditor. Additionally, INR 32,23,75,000/- was directly granted by the Financial Creditor. The Corporate Debtor made partial payments, acknowledging the debt. The principal amount of the loan was INR 927,810,886/-, with accrued interest bringing the total to INR 2,026,865,890/-. After
…Judgement/…
Order of moratorium shall have effect from…