Sentinel Consultants Pvt. Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Nestor HR Services Pvt. Ltd. (formerly known as Hyper Network), claiming default on a friendly loan of ₹25,00,000/- advanced on 30.11.2018 for a term of six months. The applicant sent reminder letters after the expiry of the loan term, but the corporate debtor failed to repay the amount. The financial creditor issued a statutory recalling notice dated 10.08.2019. The corporate debtor acknowledged the debt but stated its inability to pay.
Sentinel Consultants Pvt. Ltd. (the applicant/financial creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Nestor HR Services Pvt. Ltd. (the respondent/corporate debtor). The applicant claimed that it had advanced a friendly loan of ₹25,00,000/- to the corporate debtor on 30.11.2018 for a term of six months. The corporate debtor failed to repay the loan amount after the expiry of the term. The applicant sent reminder letters and a statutory recalling notice dated 10.08.2019, but the corporate debtor did not honor the payment. The corporate debtor acknowledged the debt but stated its inability to pay. The application was filed on 11.09.2019. The authorized share capital of the respondent company is ₹5,00,000/- and the paid-up
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Nestor HR Services Private Limited is a…
The applicant advanced…
Sentinel Consultants Pvt. Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Nestor HR Services Pvt. Ltd. (formerly known as Hyper Network), claiming default on a friendly loan of ₹25,00,000/- advanced on 30.11.2018 for a term of six months. The applicant sent reminder letters after the expiry of the loan term, but the corporate debtor failed to repay the amount. The financial creditor issued a statutory recalling notice dated 10.08.2019. The corporate debtor acknowledged the debt but stated its inability to pay.
Sentinel Consultants Pvt. Ltd. (the applicant/financial creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Nestor HR Services Pvt. Ltd. (the respondent/corporate debtor). The applicant claimed that it had advanced a friendly loan of ₹25,00,000/- to the corporate debtor on 30.11.2018 for a term of six months. The corporate debtor failed to repay the loan amount after the expiry of the term. The applicant sent reminder letters and a statutory recalling notice dated 10.08.2019, but the corporate debtor did not honor the payment. The corporate debtor acknowledged the debt but stated its inability to pay. The application was filed on 11.09.2019. The authorized share capital of the respondent company is ₹5,00,000/- and the paid-up
…Nestor HR Services Private Limited is a…
The applicant advanced…