Perinyx Energy Private Limited (Financial Creditor) filed a Section 7 petition under the IBC, 2016, against Ezon Energy Solutions Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition was based on a financial debt of Rs. 3,55,02,531/- with a default date of 11.06.2021. The debt originated from an inter-corporate deposit of Rs. 2,00,00,000/- made in 2016 for solar power projects, with an agreed interest rate. The Corporate Debtor repeatedly defaulted on repayments, issued dishonoured cheques, and allegedly engaged in fraudulent activities to release a charge. Despite multiple payment schedules and acknowledgments of debt, the Corporate Debtor failed to clear the dues. A settlement offer was made and accepted by

Perinyx Energy Private Limited (Financial Creditor) filed a Section 7 petition under the IBC, 2016, against Ezon Energy Solutions Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition was based on a financial debt of Rs. 3,55,02,531/- with a default date of 11.06.2021. The debt originated from an inter-corporate deposit of Rs. 2,00,00,000/- made in 2016 for solar power projects, with an agreed interest rate. The Corporate Debtor repeatedly defaulted on repayments, issued dishonoured cheques, and allegedly engaged in fraudulent activities to release a charge. Despite multiple payment schedules and acknowledgments of debt, the Corporate Debtor failed to clear the dues. A settlement offer was made and accepted by