Peejay Finance Company Limited filed a petition against V S Matrix Private Limited, claiming to be the Financial Creditor (FC). The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Peejay Finance claimed a financial debt of Rs.40,93,862/- along with interest of Rs.12,64,710/- due from V S Matrix. The petitioner was incorporated on 28.07.1984 and V S Matrix was incorporated on 14.06.1990. The FC disbursed Rs.1.7 crores to the CD under 4 loan agreements. The Corporate Debtor admitted to the default in a reply dated 02.01.2019.
Peejay Finance Company Limited (the 'Financial Creditor' or FC) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against V S Matrix Private Limited (the 'Corporate Debtor' or CD). Peejay Finance claimed to be a financial creditor of V S Matrix, with a financial debt of Rs.40,93,862/- along with interest of Rs.12,64,710/-. The FC disbursed Rs.1.7 crores to the CD under 4 loan agreements dated 19.10.2016, 04.2.2017, 15.2.2017 & 12.7.2017. The CD admitted to the default in a reply dated 02.01.2019, citing financial distress. The FC proposed Mr. Vineet Aggarwal as the Interim Resolution Professional (IRP). The relevance of these facts is that they establish the existence of a financial debt and a default, which are the prerequisites
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Peejay Finance…
V S Matrix P…
Peejay Finance Company Limited filed a petition against V S Matrix Private Limited, claiming to be the Financial Creditor (FC). The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Peejay Finance claimed a financial debt of Rs.40,93,862/- along with interest of Rs.12,64,710/- due from V S Matrix. The petitioner was incorporated on 28.07.1984 and V S Matrix was incorporated on 14.06.1990. The FC disbursed Rs.1.7 crores to the CD under 4 loan agreements. The Corporate Debtor admitted to the default in a reply dated 02.01.2019.
Peejay Finance Company Limited (the 'Financial Creditor' or FC) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against V S Matrix Private Limited (the 'Corporate Debtor' or CD). Peejay Finance claimed to be a financial creditor of V S Matrix, with a financial debt of Rs.40,93,862/- along with interest of Rs.12,64,710/-. The FC disbursed Rs.1.7 crores to the CD under 4 loan agreements dated 19.10.2016, 04.2.2017, 15.2.2017 & 12.7.2017. The CD admitted to the default in a reply dated 02.01.2019, citing financial distress. The FC proposed Mr. Vineet Aggarwal as the Interim Resolution Professional (IRP). The relevance of these facts is that they establish the existence of a financial debt and a default, which are the prerequisites
…Peejay Finance…
V S Matrix P…