The case involves an application filed by M/s Shresth Builders Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Virajaa Steel and Power Private Limited (Corporate Debtor) for a financial debt of Rs. 1,18,88,924/-.
M/s Shresth Builders Private Limited (Applicant) filed an application under Section 7 of the IBC to initiate CIRP against M/s Virajaa Steel and Power Private Limited (Corporate Debtor).
The Applicant claimed a financial debt of Rs. 1,18,88,924/-.
The Applicant disbursed a loan of Rs. 50,00,000/- to the Corporate Debtor on 13.03.2014 without a formal agreement.
The Corporate Debtor acknowledged the debt in its balance sheets and deducted TDS on interest payments.
The Corporate Debtor defaulted on interest payments from FY 2019-20 onwards.
The Applicant issued legal notices to the Corporate Debtor demanding repayment of the outstanding amount.
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Applicant disbursed a…
Applicant issued a…
The case involves an application filed by M/s Shresth Builders Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Virajaa Steel and Power Private Limited (Corporate Debtor) for a financial debt of Rs. 1,18,88,924/-.
M/s Shresth Builders Private Limited (Applicant) filed an application under Section 7 of the IBC to initiate CIRP against M/s Virajaa Steel and Power Private Limited (Corporate Debtor).
The Applicant claimed a financial debt of Rs. 1,18,88,924/-.
The Applicant disbursed a loan of Rs. 50,00,000/- to the Corporate Debtor on 13.03.2014 without a formal agreement.
The Corporate Debtor acknowledged the debt in its balance sheets and deducted TDS on interest payments.
The Corporate Debtor defaulted on interest payments from FY 2019-20 onwards.
The Applicant issued legal notices to the Corporate Debtor demanding repayment of the outstanding amount.
…Applicant disbursed a…
Applicant issued a…