M/S Dasaprakash Hotels and Resorts Pvt. Ltd., claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Kumar Ashiyana Private Limited, the corporate debtor. The operational creditor claimed a debt of Rs. 40,25,000 along with interest, which fell due on 19.07.2014. The corporate debtor had taken a loan of Rs. 54,00,000 from the operational creditor under an agreement dated 04.09.2007, and further loans of Rs. 4,00,000 were advanced. A statutory notice was served on 06.11.2012, and a winding-up petition was filed in December 2012 before the Allahabad High Court. A compromise agreement was executed on 19.07.2014, but the corporate debtor failed to honor it. A demand notice was sent on 25.05.2017,
…M/S Dasaprakash Hotels and Resorts Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Kumar Ashiyana Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed them Rs. 40,25,000/- along with interest, which fell due on 19.07.2014. The debt originated from a loan of Rs. 54,00,000/- advanced by the Operational Creditor to the Corporate Debtor on 04.09.2007, with additional loans totaling Rs. 4,00,000/-. The Corporate Debtor made a partial payment of Rs. 2,10,500/- in 2011-12, leaving Rs. 55,89,500/- outstanding. A statutory notice was served on 06.11.2012. In December 2012, the Operational Creditor filed a winding-up petition before the Allahabad High
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M/S Dasaprakash Hotels and Resorts Pvt. Ltd., claiming to be an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Kumar Ashiyana Private Limited, the corporate debtor. The operational creditor claimed a debt of Rs. 40,25,000 along with interest, which fell due on 19.07.2014. The corporate debtor had taken a loan of Rs. 54,00,000 from the operational creditor under an agreement dated 04.09.2007, and further loans of Rs. 4,00,000 were advanced. A statutory notice was served on 06.11.2012, and a winding-up petition was filed in December 2012 before the Allahabad High Court. A compromise agreement was executed on 19.07.2014, but the corporate debtor failed to honor it. A demand notice was sent on 25.05.2017,
…M/S Dasaprakash Hotels and Resorts Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Kumar Ashiyana Private Limited (Corporate Debtor). The Operational Creditor claimed that the Corporate Debtor owed them Rs. 40,25,000/- along with interest, which fell due on 19.07.2014. The debt originated from a loan of Rs. 54,00,000/- advanced by the Operational Creditor to the Corporate Debtor on 04.09.2007, with additional loans totaling Rs. 4,00,000/-. The Corporate Debtor made a partial payment of Rs. 2,10,500/- in 2011-12, leaving Rs. 55,89,500/- outstanding. A statutory notice was served on 06.11.2012. In December 2012, the Operational Creditor filed a winding-up petition before the Allahabad High
…Operational Creditor…
Corporate Debtor…