SE Investments Ltd., a Financial Creditor and a non-banking Financial Company, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Soni Realtors Pvt. Ltd., the Respondent Corporate Debtor. The Corporate Debtor availed a loan of Rs. 5 crores in December 2013 and another loan of Rs. 1.8 crores in January 2015 from the Financial Creditor. The loans were to be repaid with interest at 10.75% p.a. in equated monthly installments. The Corporate Debtor defaulted on the repayment schedule, leading to the Financial Creditor recalling the loan via notices in August 2015 and February 2016.
SE Investments Ltd. (Petitioner), a non-banking Financial Company, is the Financial Creditor. Soni Realtors Pvt. Ltd. (Respondent) is the Corporate Debtor. The Corporate Debtor availed a loan of Rs. 5 crores from the Financial Creditor on 2013-12-12 and another loan of Rs. 1.8 crores in January 2015. The loans were to be repaid with interest at 10.75% p.a. in equated monthly installments. The Corporate Debtor defaulted on the repayment schedule. The Financial Creditor recalled the loan via notices dated 2015-08-28 and 2016-02-09. The Corporate Debtor failed to contest the proceedings. The total outstanding amount is Rs. 5,10,64,714/-. The Financial Creditor filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate
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The Corporate Debtor availed a loan of Rs.…
The Corporate Debtor…
SE Investments Ltd., a Financial Creditor and a non-banking Financial Company, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Soni Realtors Pvt. Ltd., the Respondent Corporate Debtor. The Corporate Debtor availed a loan of Rs. 5 crores in December 2013 and another loan of Rs. 1.8 crores in January 2015 from the Financial Creditor. The loans were to be repaid with interest at 10.75% p.a. in equated monthly installments. The Corporate Debtor defaulted on the repayment schedule, leading to the Financial Creditor recalling the loan via notices in August 2015 and February 2016.
SE Investments Ltd. (Petitioner), a non-banking Financial Company, is the Financial Creditor. Soni Realtors Pvt. Ltd. (Respondent) is the Corporate Debtor. The Corporate Debtor availed a loan of Rs. 5 crores from the Financial Creditor on 2013-12-12 and another loan of Rs. 1.8 crores in January 2015. The loans were to be repaid with interest at 10.75% p.a. in equated monthly installments. The Corporate Debtor defaulted on the repayment schedule. The Financial Creditor recalled the loan via notices dated 2015-08-28 and 2016-02-09. The Corporate Debtor failed to contest the proceedings. The total outstanding amount is Rs. 5,10,64,714/-. The Financial Creditor filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate
…The Corporate Debtor availed a loan of Rs.…
The Corporate Debtor…