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 had availed a loan of Rs. 5 crores from the Financial Creditor, disbursed on 2013-12-12, and another loan of Rs. 1.8 crores in January 2015. The Corporate Debtor executed and delivered various documents to avail the loan facility, including a Board Resolution, Loan Application, Hypothecation/Loan Agreement, and Guarantee Agreement. The Corporate Debtor also furnished certain collateral security. The loans were to be repaid with interest at 10.75% p.a. in
…SE Investments Ltd., a non-banking financial company, is the Financial Creditor. Soni Realtors Pvt. Ltd. is the Corporate Debtor. The Corporate Debtor availed a loan of Rs. 5 crores on 2013-12-12 and another loan of Rs. 1.8 crores in January 2015 from the Financial Creditor. The Corporate Debtor executed a Board Resolution dated 2013-12-05, a Loan Application dated 2013-09-21, a Hypothecation/Loan Agreement dated 2013-12-06, and a Guarantee Agreement dated 2013-12-06. 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 did not take steps to liquidate the outstanding
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The Corporate Debtor availed a loan of Rs. 5…
Another loan of Rs. 1.8 crores was also…
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 had availed a loan of Rs. 5 crores from the Financial Creditor, disbursed on 2013-12-12, and another loan of Rs. 1.8 crores in January 2015. The Corporate Debtor executed and delivered various documents to avail the loan facility, including a Board Resolution, Loan Application, Hypothecation/Loan Agreement, and Guarantee Agreement. The Corporate Debtor also furnished certain collateral security. The loans were to be repaid with interest at 10.75% p.a. in
…SE Investments Ltd., a non-banking financial company, is the Financial Creditor. Soni Realtors Pvt. Ltd. is the Corporate Debtor. The Corporate Debtor availed a loan of Rs. 5 crores on 2013-12-12 and another loan of Rs. 1.8 crores in January 2015 from the Financial Creditor. The Corporate Debtor executed a Board Resolution dated 2013-12-05, a Loan Application dated 2013-09-21, a Hypothecation/Loan Agreement dated 2013-12-06, and a Guarantee Agreement dated 2013-12-06. 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 did not take steps to liquidate the outstanding
…The Corporate Debtor availed a loan of Rs. 5…
Another loan of Rs. 1.8 crores was also…