The case pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by KDS Corporation Private Limited (Financial Creditor) against Alchemist Holdings Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan repayment. The Financial Creditor had granted a loan facility to the Corporate Debtor, and a loan agreement was executed on 01.04.2017. The loan tenure was extended, and a moratorium period was also provided. However, the Corporate Debtor failed to repay the outstanding loan amount, leading to the filing of the petition.
KDS Corporation Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Alchemist Holdings Limited (Corporate Debtor). A loan agreement was executed between the parties on 01.04.2017, where the Financial Creditor granted a loan facility of Rs. 1,85,29,530/- to the Corporate Debtor. The loan tenure was initially for 3 years but was later extended by one year until 31.03.2021. The loan agreement included a moratorium period of 9 months. The Corporate Debtor failed to repay the outstanding loan amount by 31.12.2021, leading to a default. The Corporate Debtor sought an additional time period until 30.06.2022, acknowledging a debt of Rs.
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KDS Corporation Private Limited and Alchemist…
Alchemist Holdings Limited requested an…
The case pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by KDS Corporation Private Limited (Financial Creditor) against Alchemist Holdings Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan repayment. The Financial Creditor had granted a loan facility to the Corporate Debtor, and a loan agreement was executed on 01.04.2017. The loan tenure was extended, and a moratorium period was also provided. However, the Corporate Debtor failed to repay the outstanding loan amount, leading to the filing of the petition.
KDS Corporation Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Alchemist Holdings Limited (Corporate Debtor). A loan agreement was executed between the parties on 01.04.2017, where the Financial Creditor granted a loan facility of Rs. 1,85,29,530/- to the Corporate Debtor. The loan tenure was initially for 3 years but was later extended by one year until 31.03.2021. The loan agreement included a moratorium period of 9 months. The Corporate Debtor failed to repay the outstanding loan amount by 31.12.2021, leading to a default. The Corporate Debtor sought an additional time period until 30.06.2022, acknowledging a debt of Rs.
…KDS Corporation Private Limited and Alchemist…
Alchemist Holdings Limited requested an…