The case involves two applications, MA 1038/2019 filed by Fullerton India Credit Co Ltd and MA 1217/2019 filed by Entire Infratech Pvt Ltd, both related to a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. MA 1038/2019 concerns the rejection of Fullerton India's claim by the Resolution Professional (RP), while MA 1217/2019 seeks condonation of delay in filing claims by Entire Infratech Pvt Ltd before the RP. The initial petition under Section 7 of IBC, filed by Fullerton India, was admitted on 10.9.2018, and an RP was appointed. Entire Infratech's petition under Section 9 was dismissed on 4.3.2019, with liberty to file a claim before the RP.
Fullerton India Credit Co Ltd filed MA 1038/2019 seeking direction to the Respondent to allow applicant's claim dated 14.1.2019 made in FORM 'C' before the Respondent. Fullerton India, a non-banking financial company, is a Financial Creditor of the Corporate Debtor, Sunil Hitech Engineers Limited, with an outstanding debt of Rs.10,01,20,996 as of the Insolvency Commencement date (10.9.2018). A petition under Section 7 of IBC was admitted on 10.9.2018. Fullerton India disbursed a Secured Term Loan of Rs.9,25,00,000 and a Business Instalment Loan of Rs.1,10,00,000 to the Corporate Debtor under a Facility Agreement dated 30.11.2015. The Corporate Debtor defaulted on payments, leading Fullerton India to issue a notice under Section 13(2) of SARFAESI Act, 2002 on 10.8.2018.
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Tribunal admitted the Petition under Section…
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The case involves two applications, MA 1038/2019 filed by Fullerton India Credit Co Ltd and MA 1217/2019 filed by Entire Infratech Pvt Ltd, both related to a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. MA 1038/2019 concerns the rejection of Fullerton India's claim by the Resolution Professional (RP), while MA 1217/2019 seeks condonation of delay in filing claims by Entire Infratech Pvt Ltd before the RP. The initial petition under Section 7 of IBC, filed by Fullerton India, was admitted on 10.9.2018, and an RP was appointed. Entire Infratech's petition under Section 9 was dismissed on 4.3.2019, with liberty to file a claim before the RP.
Fullerton India Credit Co Ltd filed MA 1038/2019 seeking direction to the Respondent to allow applicant's claim dated 14.1.2019 made in FORM 'C' before the Respondent. Fullerton India, a non-banking financial company, is a Financial Creditor of the Corporate Debtor, Sunil Hitech Engineers Limited, with an outstanding debt of Rs.10,01,20,996 as of the Insolvency Commencement date (10.9.2018). A petition under Section 7 of IBC was admitted on 10.9.2018. Fullerton India disbursed a Secured Term Loan of Rs.9,25,00,000 and a Business Instalment Loan of Rs.1,10,00,000 to the Corporate Debtor under a Facility Agreement dated 30.11.2015. The Corporate Debtor defaulted on payments, leading Fullerton India to issue a notice under Section 13(2) of SARFAESI Act, 2002 on 10.8.2018.
…Tribunal admitted the Petition under Section…
Resolution Professional…