The case involves a Company Petition (I.B.) No. 411 of 2024 filed by Dynamic Finvest Services Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Akshaj Estates Private Limited (Corporate Guarantor) for initiating the Corporate Insolvency Resolution Process (CIRP). The petition is based on the Corporate Guarantor's default in payment of an amount aggregating to Rs. 1,94,11,439.90/-. The Financial Creditor had extended a term loan of Rs. 7,00,000/- to the Corporate Debtor, secured by a personal guarantee and a corporate guarantee. The Corporate Debtor defaulted on repayments, leading to the Financial Creditor classifying the account as a Non-Performing Asset (NPA).
Dynamic Finvest Services Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Akshaj Estates Private Limited (Corporate Guarantor) seeking to initiate CIRP. The basis for the petition was a default in payment of Rs. 1,94,11,439.90/-. The Financial Creditor had extended a term loan of Rs. 7,00,000/- to the Corporate Debtor, secured by a personal guarantee from Mr. Rajiv Goyal and a corporate guarantee from Akshaj Estates Private Limited. The loan agreement was dated 18.06.2012. The Corporate Debtor defaulted on repayments, and the Financial Creditor classified the account as an NPA on 15.06.2014. The Financial Creditor issued a demand notice on 21.08.2023 to the Corporate Debtor and the Personal
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Loan Agreement signed…
Financial Creditor classified the Corporate…
The case involves a Company Petition (I.B.) No. 411 of 2024 filed by Dynamic Finvest Services Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Akshaj Estates Private Limited (Corporate Guarantor) for initiating the Corporate Insolvency Resolution Process (CIRP). The petition is based on the Corporate Guarantor's default in payment of an amount aggregating to Rs. 1,94,11,439.90/-. The Financial Creditor had extended a term loan of Rs. 7,00,000/- to the Corporate Debtor, secured by a personal guarantee and a corporate guarantee. The Corporate Debtor defaulted on repayments, leading to the Financial Creditor classifying the account as a Non-Performing Asset (NPA).
Dynamic Finvest Services Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Akshaj Estates Private Limited (Corporate Guarantor) seeking to initiate CIRP. The basis for the petition was a default in payment of Rs. 1,94,11,439.90/-. The Financial Creditor had extended a term loan of Rs. 7,00,000/- to the Corporate Debtor, secured by a personal guarantee from Mr. Rajiv Goyal and a corporate guarantee from Akshaj Estates Private Limited. The loan agreement was dated 18.06.2012. The Corporate Debtor defaulted on repayments, and the Financial Creditor classified the account as an NPA on 15.06.2014. The Financial Creditor issued a demand notice on 21.08.2023 to the Corporate Debtor and the Personal
…Loan Agreement signed…
Financial Creditor classified the Corporate…