The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Nailesh Dresswala (Financial Creditor) against MTC ECOM Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor is a private company incorporated on 08.12.2011. The petition was filed on 03.03.2020, alleging failure to pay ₹1,00,00,000.00 as principal and ₹23,43,750.00 as interest as of 30.07.2018, the date of default. Initially, the Corporate Debtor entered into an Optionally Convertible Debenture Agreement (OCDA) dated 07.04.2018 with Orios Venture Partners Fund-I, Mr Anupam Mittal and Mr Karan Behal. Subsequently, an Addendum Agreement was entered into on 12.04.2018, whereby the Corporate Debtor was to
…Nailesh Dresswala, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against MTC ECOM Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 08.12.2011. The petition was filed on 03.03.2020, claiming a default of ₹1,00,00,000.00 as principal and ₹23,43,750.00 as interest as of 30.07.2018. Initially, the Corporate Debtor entered into an Optionally Convertible Debenture Agreement (OCDA) dated 07.04.2018 with Orios Venture Partners Fund-I, Mr Anupam Mittal and Mr Karan Behal. An Addendum Agreement was entered into on 12.04.2018, whereby the Corporate Debtor was to issue Optionally Convertible Debentures to Mr Chandrasekhar Behal. On
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MTC ECOM Private…
Corporate Debtor entered into an OCDA with…
The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Nailesh Dresswala (Financial Creditor) against MTC ECOM Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor is a private company incorporated on 08.12.2011. The petition was filed on 03.03.2020, alleging failure to pay ₹1,00,00,000.00 as principal and ₹23,43,750.00 as interest as of 30.07.2018, the date of default. Initially, the Corporate Debtor entered into an Optionally Convertible Debenture Agreement (OCDA) dated 07.04.2018 with Orios Venture Partners Fund-I, Mr Anupam Mittal and Mr Karan Behal. Subsequently, an Addendum Agreement was entered into on 12.04.2018, whereby the Corporate Debtor was to
…Nailesh Dresswala, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against MTC ECOM Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 08.12.2011. The petition was filed on 03.03.2020, claiming a default of ₹1,00,00,000.00 as principal and ₹23,43,750.00 as interest as of 30.07.2018. Initially, the Corporate Debtor entered into an Optionally Convertible Debenture Agreement (OCDA) dated 07.04.2018 with Orios Venture Partners Fund-I, Mr Anupam Mittal and Mr Karan Behal. An Addendum Agreement was entered into on 12.04.2018, whereby the Corporate Debtor was to issue Optionally Convertible Debentures to Mr Chandrasekhar Behal. On
…MTC ECOM Private…
Corporate Debtor entered into an OCDA with…