The case involves an application filed by Industrial Engineering Works, the Financial Creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Sky-Build Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The claim amounts to ₹20,00,000. The application is based on consent terms dated 09.12.2017 filed by the Applicant and the Corporate Debtor in a Summary Suit before the Bombay City Civil Court at Dindoshi, where the matter was amicably settled. The Corporate Debtor defaulted on repayments as per the consent terms.
Industrial Engineering Works, the Financial Creditor, filed an application under Section 7 of the I&B Code, 2016, against Sky-Build Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) for a debt of ₹20,00,000. The application was based on consent terms dated 09.12.2017, agreed upon in a Summary Suit No.400 of 2016 before the Bombay City Civil Court at Dindoshi. The Corporate Debtor had agreed to repay ₹30,00,000 in three installments as per the consent terms. Cheques issued for the second and third installments were dishonored. The Summary Suit was filed to recover ₹39,28,254, which was due on account of default in repayment of a hand loan granted to the Corporate Debtor at 12% interest. Despite sufficient
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Summary Suit No.400 of…
Consent terms dated 09.12.2017 filed by the…
The case involves an application filed by Industrial Engineering Works, the Financial Creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Sky-Build Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The claim amounts to ₹20,00,000. The application is based on consent terms dated 09.12.2017 filed by the Applicant and the Corporate Debtor in a Summary Suit before the Bombay City Civil Court at Dindoshi, where the matter was amicably settled. The Corporate Debtor defaulted on repayments as per the consent terms.
Industrial Engineering Works, the Financial Creditor, filed an application under Section 7 of the I&B Code, 2016, against Sky-Build Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) for a debt of ₹20,00,000. The application was based on consent terms dated 09.12.2017, agreed upon in a Summary Suit No.400 of 2016 before the Bombay City Civil Court at Dindoshi. The Corporate Debtor had agreed to repay ₹30,00,000 in three installments as per the consent terms. Cheques issued for the second and third installments were dishonored. The Summary Suit was filed to recover ₹39,28,254, which was due on account of default in repayment of a hand loan granted to the Corporate Debtor at 12% interest. Despite sufficient
…Summary Suit No.400 of…
Consent terms dated 09.12.2017 filed by the…