The case pertains to a Company Petition (IB-1226/ND/2019) filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Ashish Bankar, the Financial Creditor, against M/S Nu Tek India Limited, the Corporate Debtor. The applicant, Ashish Bankar, sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/S Nu Tek India Limited. The applicant was appointed as Chief Financial Officer of the corporate debtor during 2017-2019 and had advanced a loan to the corporate debtor. The corporate debtor failed to make the payment for the loan advanced by the applicant.
Ashish Bankar, the applicant and financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S Nu Tek India Limited, the corporate debtor. Ashish Bankar was the Chief Financial Officer of the corporate debtor from 2017 to 2019. During this period, he advanced a loan of Rs. 41,47,415/- to the corporate debtor. The corporate debtor failed to repay the loan. The corporate debtor acknowledged the debt in a letter dated 20.02.2019 but cited instability in the telecom sector, shutdown of operations, liquidity crunch, and regulatory compliances as reasons for its inability to repay the loan. The date of default was 20.02.2019. The application was filed on
…Sign in to view the parties.
Corporate Debtor is…
Corporate D…
The case pertains to a Company Petition (IB-1226/ND/2019) filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Ashish Bankar, the Financial Creditor, against M/S Nu Tek India Limited, the Corporate Debtor. The applicant, Ashish Bankar, sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/S Nu Tek India Limited. The applicant was appointed as Chief Financial Officer of the corporate debtor during 2017-2019 and had advanced a loan to the corporate debtor. The corporate debtor failed to make the payment for the loan advanced by the applicant.
Ashish Bankar, the applicant and financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/S Nu Tek India Limited, the corporate debtor. Ashish Bankar was the Chief Financial Officer of the corporate debtor from 2017 to 2019. During this period, he advanced a loan of Rs. 41,47,415/- to the corporate debtor. The corporate debtor failed to repay the loan. The corporate debtor acknowledged the debt in a letter dated 20.02.2019 but cited instability in the telecom sector, shutdown of operations, liquidity crunch, and regulatory compliances as reasons for its inability to repay the loan. The date of default was 20.02.2019. The application was filed on
…Corporate Debtor is…
Corporate D…