Reliance Commercial Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against New Win Win Feeds Private Limited, the Corporate Debtor, due to a default in paying a financial debt of Rs.8,06,18,559/-. The financial creditor stated that it is a non-banking company and had disbursed a loan of Rs.8 crores to the corporate debtor as per a loan agreement dated 28.12.2016. The corporate debtor defaulted on 26.03.2018, despite a demand notice.
Reliance Commercial Finance Limited, a non-banking financial company, extended a loan of Rs. 8 crores to New Win Win Feeds Private Limited, the Corporate Debtor, under a loan agreement dated 2016-12-28. The Corporate Debtor defaulted in repaying the loan on 2018-03-26, leading Reliance Commercial Finance Limited to issue a demand notice. Despite the notice, the Corporate Debtor failed to repay the loan. Consequently, Reliance Commercial Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against New Win Win Feeds Private Limited. The Corporate Debtor contested the application, arguing that it was not filed by a duly authorized representative of the financial
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Reliance Commercial Finance Ltd. granted a…
New Win Win Feeds…
Reliance Commercial Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against New Win Win Feeds Private Limited, the Corporate Debtor, due to a default in paying a financial debt of Rs.8,06,18,559/-. The financial creditor stated that it is a non-banking company and had disbursed a loan of Rs.8 crores to the corporate debtor as per a loan agreement dated 28.12.2016. The corporate debtor defaulted on 26.03.2018, despite a demand notice.
Reliance Commercial Finance Limited, a non-banking financial company, extended a loan of Rs. 8 crores to New Win Win Feeds Private Limited, the Corporate Debtor, under a loan agreement dated 2016-12-28. The Corporate Debtor defaulted in repaying the loan on 2018-03-26, leading Reliance Commercial Finance Limited to issue a demand notice. Despite the notice, the Corporate Debtor failed to repay the loan. Consequently, Reliance Commercial Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against New Win Win Feeds Private Limited. The Corporate Debtor contested the application, arguing that it was not filed by a duly authorized representative of the financial
…Reliance Commercial Finance Ltd. granted a…
New Win Win Feeds…