Urmila Goyal, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sharnarthi Finance Limited, the Corporate Debtor, due to a default amount of Rs. 6,78,79,674/-.
Urmila Goyal (Financial Creditor) filed an application under Section 7 of the IBC against Sharnarthi Finance Limited (Corporate Debtor) for a default of Rs. 6,78,79,674/-.
The Corporate Debtor received Rs. 3,75,00,000/- from the Financial Creditor and Rs. 30,00,000/- from the Financial Creditor's son, Dhruv Goel.
The Corporate Debtor acknowledged the loan and interest in its 'Confirmation of Account' for the financial years 2015-16 and 2016-17.
The Corporate Debtor stopped booking interest on the outstanding principal from 01.04.2017.
The Financial Creditor issued a demand notice on 13.11.2019, seeking repayment of Rs. 6,78,79,674/-.
The Corporate Debtor opposed the application, citing the absence of a loan agreement and inter se transactions.
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Urmila Goyal, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sharnarthi Finance Limited, the Corporate Debtor, due to a default amount of Rs. 6,78,79,674/-.
Urmila Goyal (Financial Creditor) filed an application under Section 7 of the IBC against Sharnarthi Finance Limited (Corporate Debtor) for a default of Rs. 6,78,79,674/-.
The Corporate Debtor received Rs. 3,75,00,000/- from the Financial Creditor and Rs. 30,00,000/- from the Financial Creditor's son, Dhruv Goel.
The Corporate Debtor acknowledged the loan and interest in its 'Confirmation of Account' for the financial years 2015-16 and 2016-17.
The Corporate Debtor stopped booking interest on the outstanding principal from 01.04.2017.
The Financial Creditor issued a demand notice on 13.11.2019, seeking repayment of Rs. 6,78,79,674/-.
The Corporate Debtor opposed the application, citing the absence of a loan agreement and inter se transactions.
…HDFC Bank disbu…
SBI, PBB, Hauz Khas…