The case involves a Company Petition filed by M/s. Sarwottam Ispat Limited (Financial Creditor) against M/s. Sai Krishnodaya Industries Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor claimed that it had disbursed a loan of Rs. 1,45,00,000/- to the Corporate Debtor in various tranches on 24.03.2013, with the total financial debt amounting to Rs. 1,55,90,480/- including interest. The Corporate Debtor's sister concern, M/s. Sainath Estates Private Limited, had issued a letter stating that the loan would be paid between October and December 2016. A Memorandum of Understanding (MOU) was executed on 29.11.2017, and M/s. Sainath Estates Private Limited issued two post-dated cheques, which were later
…M/s. Sarwottam Ispat Limited (Financial Creditor) filed a Company Petition against M/s. Sai Krishnodaya Industries Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor disbursed a loan of Rs. 1,45,00,000/- to the Corporate Debtor on 24.03.2013. The total financial debt, including interest, amounted to Rs. 1,55,90,480/-. M/s. Sainath Estates Private Limited, a sister concern of the Corporate Debtor, issued a letter on 06.09.2016 stating that the loan would be repaid between October and December 2016. A Memorandum of Understanding (MOU) was executed on 29.11.2017. M/s. Sainath Estates Private Limited issued two post-dated cheques dated 31.03.2018 and 31.05.2018, which were subsequently dishonored due to
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M/s. Sarwottam Ispat Limited disbursed a…
M/s. Sainath Estates Private Limited issued a…
The case involves a Company Petition filed by M/s. Sarwottam Ispat Limited (Financial Creditor) against M/s. Sai Krishnodaya Industries Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor claimed that it had disbursed a loan of Rs. 1,45,00,000/- to the Corporate Debtor in various tranches on 24.03.2013, with the total financial debt amounting to Rs. 1,55,90,480/- including interest. The Corporate Debtor's sister concern, M/s. Sainath Estates Private Limited, had issued a letter stating that the loan would be paid between October and December 2016. A Memorandum of Understanding (MOU) was executed on 29.11.2017, and M/s. Sainath Estates Private Limited issued two post-dated cheques, which were later
…M/s. Sarwottam Ispat Limited (Financial Creditor) filed a Company Petition against M/s. Sai Krishnodaya Industries Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor disbursed a loan of Rs. 1,45,00,000/- to the Corporate Debtor on 24.03.2013. The total financial debt, including interest, amounted to Rs. 1,55,90,480/-. M/s. Sainath Estates Private Limited, a sister concern of the Corporate Debtor, issued a letter on 06.09.2016 stating that the loan would be repaid between October and December 2016. A Memorandum of Understanding (MOU) was executed on 29.11.2017. M/s. Sainath Estates Private Limited issued two post-dated cheques dated 31.03.2018 and 31.05.2018, which were subsequently dishonored due to
…M/s. Sarwottam Ispat Limited disbursed a…
M/s. Sainath Estates Private Limited issued a…