The case pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by KDS Corporation Private Limited (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Alchemist Holdings Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan repayment. The Financial Creditor and Corporate Debtor entered into a Loan Agreement dated 01.04.2017, where the Financial Creditor advanced INR 1,85,29,530/- to the Corporate Debtor. The loan tenure was for 3 years, later extended by 1 year until 31.03.2021. A moratorium period of 9 months was also granted, ending on 31.12.2021. The Corporate Debtor failed to repay the loan amount, leading to defaults on 31.12.2021 and
…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). The Financial Creditor and the Corporate Debtor entered into a Loan Agreement dated 01.04.2017, where the Financial Creditor advanced a total sum of INR 1,85,29,530/- to the Corporate Debtor. The loan tenure was for 3 years, starting from 01.04.2017 and ending on 31.03.2020. The Loan Agreement also provided for a moratorium period of 9 months after the end of the availability period. Before the expiry of the loan agreement, the Corporate Debtor requested an extension of the Loan Agreement for an additional year, which was
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KDS Corporation Private Limited (Financial…
The Corporate Debtor…
The case pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by KDS Corporation Private Limited (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Alchemist Holdings Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan repayment. The Financial Creditor and Corporate Debtor entered into a Loan Agreement dated 01.04.2017, where the Financial Creditor advanced INR 1,85,29,530/- to the Corporate Debtor. The loan tenure was for 3 years, later extended by 1 year until 31.03.2021. A moratorium period of 9 months was also granted, ending on 31.12.2021. The Corporate Debtor failed to repay the loan amount, leading to defaults on 31.12.2021 and
…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). The Financial Creditor and the Corporate Debtor entered into a Loan Agreement dated 01.04.2017, where the Financial Creditor advanced a total sum of INR 1,85,29,530/- to the Corporate Debtor. The loan tenure was for 3 years, starting from 01.04.2017 and ending on 31.03.2020. The Loan Agreement also provided for a moratorium period of 9 months after the end of the availability period. Before the expiry of the loan agreement, the Corporate Debtor requested an extension of the Loan Agreement for an additional year, which was
…KDS Corporation Private Limited (Financial…
The Corporate Debtor…