BDR Builders & Developers Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shilpi Cables Pvt. Ltd., claiming default on a loan of Rs. 31,00,00,000/-. The applicant, BDR Builders, is a non-government private company. The corporate debtor, Shilpi Cables, is also a non-government private company. The financial creditor claims that the corporate debtor failed to repay the loan amount and interest, leading to the application for initiation of corporate insolvency resolution process.
BDR Builders & Developers Pvt. Ltd. (the applicant) filed an application against Shilpi Cables Pvt. Ltd. (the corporate debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the corporate debtor defaulted on a loan of Rs. 31,00,00,000/-. The loan agreement was dated 23.12.2015. The corporate debtor had issued six cheques towards discharge of the loan amount, which were dishonored on 28.4.2017. An amended loan-cum-guarantee deed was executed on 01.05.2017, with Manish Goel and Mukesh Kumar Gupta as guarantors. The corporate debtor also pledged equity shares and warrants in Shilpi Cable Technologies Limited in favor of the financial creditor. The corporate debtor failed to repay the loan amount, which became due on
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Loan agreement dated 23.12.2015 was executed…
Six cheques issued by…
BDR Builders & Developers Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shilpi Cables Pvt. Ltd., claiming default on a loan of Rs. 31,00,00,000/-. The applicant, BDR Builders, is a non-government private company. The corporate debtor, Shilpi Cables, is also a non-government private company. The financial creditor claims that the corporate debtor failed to repay the loan amount and interest, leading to the application for initiation of corporate insolvency resolution process.
BDR Builders & Developers Pvt. Ltd. (the applicant) filed an application against Shilpi Cables Pvt. Ltd. (the corporate debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that the corporate debtor defaulted on a loan of Rs. 31,00,00,000/-. The loan agreement was dated 23.12.2015. The corporate debtor had issued six cheques towards discharge of the loan amount, which were dishonored on 28.4.2017. An amended loan-cum-guarantee deed was executed on 01.05.2017, with Manish Goel and Mukesh Kumar Gupta as guarantors. The corporate debtor also pledged equity shares and warrants in Shilpi Cable Technologies Limited in favor of the financial creditor. The corporate debtor failed to repay the loan amount, which became due on
…Loan agreement dated 23.12.2015 was executed…
Six cheques issued by…