The application was filed by Deepraj Investments Pvt. Ltd., the Financial Creditor, under Section 7 of the IBC, 2016, against Sai Precious Traexim Private Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on a loan of Rs. 1,00,00,000/-. The Corporate Debtor argued that the Financial Creditor did not disburse the entire loan amount and that the Corporate Debtor had already filed complaints against the Financial Creditor and Rajeev Aggarwal for alleged fraudulent activities.
Deepraj Investments Pvt. Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Sai Precious Traexim Private Limited (Corporate Debtor) for defaulting on a loan. The Corporate Debtor approached the Financial Creditor on 19.01.2019 requesting a loan of Rs. 1,00,00,000/-. The Financial Creditor sanctioned the loan on 23.01.2019. A loan agreement was signed on 29.01.2019. The Financial Creditor claims to have disbursed Rs. 35,00,000/- to two creditors of the Corporate Debtor and Rs. 65,00,000/- to the Corporate Debtor's bank account between 30.01.2019 and 25.02.2019. The Corporate Debtor issued post-dated cheques for interest and principal repayment, which were dishonored. The Financial Creditor initiated criminal proceedings under
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Corporate Debtor…
Financial Cr…
The application was filed by Deepraj Investments Pvt. Ltd., the Financial Creditor, under Section 7 of the IBC, 2016, against Sai Precious Traexim Private Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on a loan of Rs. 1,00,00,000/-. The Corporate Debtor argued that the Financial Creditor did not disburse the entire loan amount and that the Corporate Debtor had already filed complaints against the Financial Creditor and Rajeev Aggarwal for alleged fraudulent activities.
Deepraj Investments Pvt. Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Sai Precious Traexim Private Limited (Corporate Debtor) for defaulting on a loan. The Corporate Debtor approached the Financial Creditor on 19.01.2019 requesting a loan of Rs. 1,00,00,000/-. The Financial Creditor sanctioned the loan on 23.01.2019. A loan agreement was signed on 29.01.2019. The Financial Creditor claims to have disbursed Rs. 35,00,000/- to two creditors of the Corporate Debtor and Rs. 65,00,000/- to the Corporate Debtor's bank account between 30.01.2019 and 25.02.2019. The Corporate Debtor issued post-dated cheques for interest and principal repayment, which were dishonored. The Financial Creditor initiated criminal proceedings under
…Corporate Debtor…
Financial Cr…