The case involves a Company Petition (IB) No.579/KB/2017 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The applicants, Abhishek Stock Broking Services Pvt. Ltd., Narayan Finvest Pvt. Ltd., Ayush Fiscal Pvt. Ltd., and Multiplus Resources Ltd., are financial creditors seeking to initiate corporate insolvency resolution process against the respondent, Shree Ganesh Jewellery House (I) Ltd., the corporate debtor. The applicants claim that the corporate debtor defaulted on loan repayments.
Abhishek Stock Broking Services Pvt. Ltd., Narayan Finvest Pvt. Ltd., Ayush Fiscal Pvt. Ltd., and Multiplus Resources Ltd. (the applicants) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Ganesh Jewellery House (I) Ltd. (the corporate debtor). The applicants claimed to have extended financial assistance to the corporate debtor in the form of Inter Corporate Deposits. Specifically, Abhishek Stock Broking Services Pvt. Ltd. granted a credit facility of Rs. 22,00,000/- on 19/7/2014, Narayan Finvest Pvt. Ltd. advanced Rs. 85,00,000/-, Ayush Fiscal Pvt. Ltd. advanced Rs. 65,00,000/-, and Multiplus Resources Ltd. advanced Rs. 40,00,000/-. The corporate debtor defaulted on repayments, leading to a total outstanding debt of Rs.
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The case involves a Company Petition (IB) No.579/KB/2017 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The applicants, Abhishek Stock Broking Services Pvt. Ltd., Narayan Finvest Pvt. Ltd., Ayush Fiscal Pvt. Ltd., and Multiplus Resources Ltd., are financial creditors seeking to initiate corporate insolvency resolution process against the respondent, Shree Ganesh Jewellery House (I) Ltd., the corporate debtor. The applicants claim that the corporate debtor defaulted on loan repayments.
Abhishek Stock Broking Services Pvt. Ltd., Narayan Finvest Pvt. Ltd., Ayush Fiscal Pvt. Ltd., and Multiplus Resources Ltd. (the applicants) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Ganesh Jewellery House (I) Ltd. (the corporate debtor). The applicants claimed to have extended financial assistance to the corporate debtor in the form of Inter Corporate Deposits. Specifically, Abhishek Stock Broking Services Pvt. Ltd. granted a credit facility of Rs. 22,00,000/- on 19/7/2014, Narayan Finvest Pvt. Ltd. advanced Rs. 85,00,000/-, Ayush Fiscal Pvt. Ltd. advanced Rs. 65,00,000/-, and Multiplus Resources Ltd. advanced Rs. 40,00,000/-. The corporate debtor defaulted on repayments, leading to a total outstanding debt of Rs.
…Loan of Rs.30,…
Loan of Rs.20,…