The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) against Sri Panchajanya Power Private Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan agreement entered on 08.11.2012, where the Financial Creditor agreed to lend Rs. 30,00,000 at an interest rate of 18% per annum. The Financial Creditor disbursed Rs. 20,22,953 as of 10.04.2019. The Corporate Debtor acknowledged the debt on 07.01.2015 and 18.04.2019 but failed to repay the principal and interest.
Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Sri Panchajanya Power Private Limited (Corporate Debtor). The Corporate Debtor was engaged in the business of power generation in Maharashtra. The Financial Creditor and Corporate Debtor entered into a Loan Agreement on 08.11.2012, where the Financial Creditor agreed to lend Rs. 30,00,000 at an interest rate of 18% per annum. The Financial Creditor disbursed Rs. 20,22,953 as of 10.04.2019. The Corporate Debtor failed to repay the principal and interest despite reminders from the Financial Creditor. The Corporate Debtor acknowledged the debt on 07.01.2015 and 18.04.2019. The total amount due, including
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The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) against Sri Panchajanya Power Private Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan agreement entered on 08.11.2012, where the Financial Creditor agreed to lend Rs. 30,00,000 at an interest rate of 18% per annum. The Financial Creditor disbursed Rs. 20,22,953 as of 10.04.2019. The Corporate Debtor acknowledged the debt on 07.01.2015 and 18.04.2019 but failed to repay the principal and interest.
Acquaint Engineers & Infrastructure Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Sri Panchajanya Power Private Limited (Corporate Debtor). The Corporate Debtor was engaged in the business of power generation in Maharashtra. The Financial Creditor and Corporate Debtor entered into a Loan Agreement on 08.11.2012, where the Financial Creditor agreed to lend Rs. 30,00,000 at an interest rate of 18% per annum. The Financial Creditor disbursed Rs. 20,22,953 as of 10.04.2019. The Corporate Debtor failed to repay the principal and interest despite reminders from the Financial Creditor. The Corporate Debtor acknowledged the debt on 07.01.2015 and 18.04.2019. The total amount due, including
…The Respondent and the…
Reminder Lette…