Oracle Finvest and Consultants Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Senioreetaa Designer Ensembles Private Limited. The financial creditor claimed a default of Rs. 7 lakhs, with the date of default stated as 23.11.2017. The financial creditor had financed Rs. 9 lakhs to the corporate debtor on 29.05.2015, and the corporate debtor refunded Rs. 2 lakhs on two different dates and paid interest up to 31.07.2017. Thereafter, no further payments were received.
Oracle Finvest and Consultants Private Limited (Financial Creditor) provided a loan of Rs. 9 lakhs to Senioreetaa Designer Ensembles Private Limited (Corporate Debtor) on 29.05.2015. The Corporate Debtor repaid Rs. 2 lakhs in installments and paid interest until 31.07.2017. The Financial Creditor claimed a default of Rs. 7 lakhs, stating the date of default as 23.11.2017. The Financial Creditor recalled the loan on 23.11.2017, but the Corporate Debtor did not respond. The Financial Creditor presented a cheque dated 23.11.2017 for Rs. 7 lakhs, which was not accepted. The Corporate Debtor argued the loan was payable in May 2021, referring to page 32 of the paper book. The Corporate Debtor also claimed to have given another cheque in 2018, which was received by the
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Oracle Finvest and Consultants Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Senioreetaa Designer Ensembles Private Limited. The financial creditor claimed a default of Rs. 7 lakhs, with the date of default stated as 23.11.2017. The financial creditor had financed Rs. 9 lakhs to the corporate debtor on 29.05.2015, and the corporate debtor refunded Rs. 2 lakhs on two different dates and paid interest up to 31.07.2017. Thereafter, no further payments were received.
Oracle Finvest and Consultants Private Limited (Financial Creditor) provided a loan of Rs. 9 lakhs to Senioreetaa Designer Ensembles Private Limited (Corporate Debtor) on 29.05.2015. The Corporate Debtor repaid Rs. 2 lakhs in installments and paid interest until 31.07.2017. The Financial Creditor claimed a default of Rs. 7 lakhs, stating the date of default as 23.11.2017. The Financial Creditor recalled the loan on 23.11.2017, but the Corporate Debtor did not respond. The Financial Creditor presented a cheque dated 23.11.2017 for Rs. 7 lakhs, which was not accepted. The Corporate Debtor argued the loan was payable in May 2021, referring to page 32 of the paper book. The Corporate Debtor also claimed to have given another cheque in 2018, which was received by the
…Financial Creditor…
Corporate Debt…