The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Intec Capital Limited (Financial Creditor) against Shri Govind Reality Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's default in paying a financial debt of approximately Rs. 2,90,00,000/-, with the date of default stated as 05.03.2018. The Financial Creditor, a Non-Banking Finance Company (NBFC), had granted a term loan of Rs. 3,00,00,000/- to the Corporate Debtor on 16.03.2015, to be repaid in sixty equitable monthly installments. The Corporate Debtor defaulted, leading to the Financial Creditor recalling the loan and serving a notice on 23.06.2018.
Intec Capital Limited, a Non-Banking Finance Company (NBFC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shri Govind Reality Private Limited, the Corporate Debtor. The Financial Creditor had granted a term loan of Rs. 3,00,00,000/- to the Corporate Debtor on 16.03.2015, to be repaid in sixty equitable monthly installments of Rs. 7,61,803/-. The Corporate Debtor defaulted in paying the financial debt of Rs. 2,90,00,000/-, with the date of default being 05.03.2018. The Financial Creditor recalled the loan and served a notice on 23.06.2018. The Corporate Debtor filed IA/44(MP)2021 and IA/106(MP)2021 seeking to restrain the Financial Creditor, citing a pending matter before the Tehsildar & Executive Magistrate and an
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Intec Capital Ltd. disbursed a term loan of Rs.…
Shri Govind Reality…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Intec Capital Limited (Financial Creditor) against Shri Govind Reality Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's default in paying a financial debt of approximately Rs. 2,90,00,000/-, with the date of default stated as 05.03.2018. The Financial Creditor, a Non-Banking Finance Company (NBFC), had granted a term loan of Rs. 3,00,00,000/- to the Corporate Debtor on 16.03.2015, to be repaid in sixty equitable monthly installments. The Corporate Debtor defaulted, leading to the Financial Creditor recalling the loan and serving a notice on 23.06.2018.
Intec Capital Limited, a Non-Banking Finance Company (NBFC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shri Govind Reality Private Limited, the Corporate Debtor. The Financial Creditor had granted a term loan of Rs. 3,00,00,000/- to the Corporate Debtor on 16.03.2015, to be repaid in sixty equitable monthly installments of Rs. 7,61,803/-. The Corporate Debtor defaulted in paying the financial debt of Rs. 2,90,00,000/-, with the date of default being 05.03.2018. The Financial Creditor recalled the loan and served a notice on 23.06.2018. The Corporate Debtor filed IA/44(MP)2021 and IA/106(MP)2021 seeking to restrain the Financial Creditor, citing a pending matter before the Tehsildar & Executive Magistrate and an
…Intec Capital Ltd. disbursed a term loan of Rs.…
Shri Govind Reality…