The case involves a petition filed by Good Fly Distributors Private Limited, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Amoghvarsh Houses Private Limited (formerly known as Arihant Technoinfra Private Limited), the Corporate Debtor. The Financial Creditor claimed a default of Rs. 4,36,32,487.42, comprising principal and interest, arising from a loan provided to the Corporate Debtor in 2013. The Corporate Debtor contested the claim, asserting that the outstanding amount had been repaid.
Good Fly Distributors 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 Amoghvarsh Houses Private Limited (Corporate Debtor). The Financial Creditor claimed a total outstanding debt of Rs. 4,36,32,487.42, including principal and interest, arising from a loan provided in 2013 with interest rates of 13.25% until 31.03.2014 and 15% thereafter. The Financial Creditor submitted that the Corporate Debtor made some payments, including TDS, but a significant amount remained due. The Corporate Debtor argued that the loan was repayable when it was in a position to do so and that the entire outstanding amount of Rs. 2,47,64,188/- had been repaid in
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Amoghvarsh Houses Private Limited (formerly…
The Financial Creditor provided a loan to the…
The case involves a petition filed by Good Fly Distributors Private Limited, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Amoghvarsh Houses Private Limited (formerly known as Arihant Technoinfra Private Limited), the Corporate Debtor. The Financial Creditor claimed a default of Rs. 4,36,32,487.42, comprising principal and interest, arising from a loan provided to the Corporate Debtor in 2013. The Corporate Debtor contested the claim, asserting that the outstanding amount had been repaid.
Good Fly Distributors 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 Amoghvarsh Houses Private Limited (Corporate Debtor). The Financial Creditor claimed a total outstanding debt of Rs. 4,36,32,487.42, including principal and interest, arising from a loan provided in 2013 with interest rates of 13.25% until 31.03.2014 and 15% thereafter. The Financial Creditor submitted that the Corporate Debtor made some payments, including TDS, but a significant amount remained due. The Corporate Debtor argued that the loan was repayable when it was in a position to do so and that the entire outstanding amount of Rs. 2,47,64,188/- had been repaid in
…Amoghvarsh Houses Private Limited (formerly…
The Financial Creditor provided a loan to the…