The application was filed by Laxmi Narain Yadav, the applicant, claiming to be a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Maha Mayay Metals LLP, the Corporate Debtor. The applicant was a partner in the registered partnership firm 'M/s Mahamayay Steels' since 08.12.2010, which later became a Limited Liability Partnership 'M/s Mahamayay Metals LLP' on 02.09.2020. The Corporate Debtor is in the business of manufacturing and trading MS Ingots.
Laxmi Narain Yadav, the applicant, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Maha Mayay Metals LLP, the Corporate Debtor. The applicant claimed to be a Financial Creditor. The applicant was a partner in the registered partnership firm 'M/s Mahamayay Steels' since 08.12.2010. The firm was later registered as a Limited Liability Partnership 'M/s Mahamayay Metals LLP' on 02.09.2020. The applicant granted a loan of Rs. 2,01,56,757.20/- to the partnership firm. The loan was to be repaid by 31.12.2019 with 12% interest per annum. The partnership firm failed to repay the loan. Two post-dated cheques were issued but were dishonored. The corporate debtor acknowledged the
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M/s Mahamayay Steels…
Applicant and Shri Ashoo Yadav entered into a…
The application was filed by Laxmi Narain Yadav, the applicant, claiming to be a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Maha Mayay Metals LLP, the Corporate Debtor. The applicant was a partner in the registered partnership firm 'M/s Mahamayay Steels' since 08.12.2010, which later became a Limited Liability Partnership 'M/s Mahamayay Metals LLP' on 02.09.2020. The Corporate Debtor is in the business of manufacturing and trading MS Ingots.
Laxmi Narain Yadav, the applicant, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Maha Mayay Metals LLP, the Corporate Debtor. The applicant claimed to be a Financial Creditor. The applicant was a partner in the registered partnership firm 'M/s Mahamayay Steels' since 08.12.2010. The firm was later registered as a Limited Liability Partnership 'M/s Mahamayay Metals LLP' on 02.09.2020. The applicant granted a loan of Rs. 2,01,56,757.20/- to the partnership firm. The loan was to be repaid by 31.12.2019 with 12% interest per annum. The partnership firm failed to repay the loan. Two post-dated cheques were issued but were dishonored. The corporate debtor acknowledged the
…M/s Mahamayay Steels…
Applicant and Shri Ashoo Yadav entered into a…