The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Namratha Power Private Limited. The applicant, KSK Electricity Financing India Pvt. Ltd., claims that a loan in the form of Inter Corporate Deposit (ICD) was given under an ICD Agreement dated 2010-03-10 for Rs. 2,50,00,000 with 12% interest per annum by M/s. Wardha Power Corporation. The loan was assigned to the applicant via a deed of assignment dated 2018-04-01. The corporate debtor failed to repay the loan, with the date of default being 2019-03-01. The total sum due is Rs. 5,29,83,826.
KSK Electricity Financing India Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Namratha Power Private Limited. The basis for the application is a loan initially given as an Inter Corporate Deposit (ICD) by M/s. Wardha Power Corporation to Namratha Power Private Limited on 2010-03-10 for Rs. 2,50,00,000 at an interest rate of 12% per annum. This loan was later assigned to KSK Electricity Financing India Pvt. Ltd. on 2018-04-01. Namratha Power Private Limited defaulted on the repayment of the loan, with the date of default being 2019-03-01. The total amount due as of the application date is Rs. 5,29,83,826. The respondent admitted to availing the loan and their
…Sign in to view the parties.
Loan given as Inter Corporate Deposit (ICD) by…
Loan assigned from M/s. Wardha Power…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Namratha Power Private Limited. The applicant, KSK Electricity Financing India Pvt. Ltd., claims that a loan in the form of Inter Corporate Deposit (ICD) was given under an ICD Agreement dated 2010-03-10 for Rs. 2,50,00,000 with 12% interest per annum by M/s. Wardha Power Corporation. The loan was assigned to the applicant via a deed of assignment dated 2018-04-01. The corporate debtor failed to repay the loan, with the date of default being 2019-03-01. The total sum due is Rs. 5,29,83,826.
KSK Electricity Financing India Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Namratha Power Private Limited. The basis for the application is a loan initially given as an Inter Corporate Deposit (ICD) by M/s. Wardha Power Corporation to Namratha Power Private Limited on 2010-03-10 for Rs. 2,50,00,000 at an interest rate of 12% per annum. This loan was later assigned to KSK Electricity Financing India Pvt. Ltd. on 2018-04-01. Namratha Power Private Limited defaulted on the repayment of the loan, with the date of default being 2019-03-01. The total amount due as of the application date is Rs. 5,29,83,826. The respondent admitted to availing the loan and their
…Loan given as Inter Corporate Deposit (ICD) by…
Loan assigned from M/s. Wardha Power…