The case pertains to a petition filed by Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. M.S.M Energy Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan agreement entered on 01.02.2012, where the Financial Creditor was to lend ₹.1,00,00,000/-. The Corporate Debtor was engaged in power generation in Maharashtra and approached the Financial Creditor for short-term funding for two 10 MW power projects.
Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. M.S.M Energy Limited (Corporate Debtor). The Corporate Debtor, engaged in power generation in Maharashtra, sought short-term funding from the Financial Creditor for two 10 MW power projects. A loan agreement was entered on 01.02.2012, where the Financial Creditor agreed to lend ₹.1,00,00,000/- at 18% interest per annum. The Financial Creditor disbursed ₹.65,59,028/- by 12.10.2018. The Corporate Debtor defaulted on payments, leading the Financial Creditor to issue reminders on 12.03.2015 and 12.10.2018. The Corporate Debtor acknowledged the debt on 22nd March, 2015 and 25th October, 2018. The total amount
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The Petitioner/FC…
The Petitioner/FC…
The case pertains to a petition filed by Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. M.S.M Energy Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan agreement entered on 01.02.2012, where the Financial Creditor was to lend ₹.1,00,00,000/-. The Corporate Debtor was engaged in power generation in Maharashtra and approached the Financial Creditor for short-term funding for two 10 MW power projects.
Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. M.S.M Energy Limited (Corporate Debtor). The Corporate Debtor, engaged in power generation in Maharashtra, sought short-term funding from the Financial Creditor for two 10 MW power projects. A loan agreement was entered on 01.02.2012, where the Financial Creditor agreed to lend ₹.1,00,00,000/- at 18% interest per annum. The Financial Creditor disbursed ₹.65,59,028/- by 12.10.2018. The Corporate Debtor defaulted on payments, leading the Financial Creditor to issue reminders on 12.03.2015 and 12.10.2018. The Corporate Debtor acknowledged the debt on 22nd March, 2015 and 25th October, 2018. The total amount
…The Petitioner/FC…
The Petitioner/FC…