The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Mr. Murali S, the Financial Creditor, against M/s. Anu Engitech Private Limited, the Corporate Debtor. The Financial Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP). The Corporate Debtor allegedly defaulted on loan repayments.
Mr. Murali S, an individual, filed an application as a Financial Creditor against M/s. Anu Engitech Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had approached the Financial Creditor for working capital, leading to a loan agreement dated June 29, 2011, for Rs. 16,00,000, which was repaid with interest. Another loan agreement was entered on June 13, 2016, for Rs. 55,00,000, subject to interest and penal interest. The Corporate Debtor defaulted on the repayment of the financial debt. The Managing Director of the Corporate Debtor, M. H. Krishnamoorthy, passed away, and the company was taken over by H. Nagarajan. Attempts to retrieve the loan amount failed. The Financial Creditor submitted letters
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Loan agreement entered into between the…
Another loan agreement…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Mr. Murali S, the Financial Creditor, against M/s. Anu Engitech Private Limited, the Corporate Debtor. The Financial Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declare a moratorium, and appoint an Interim Resolution Professional (IRP). The Corporate Debtor allegedly defaulted on loan repayments.
Mr. Murali S, an individual, filed an application as a Financial Creditor against M/s. Anu Engitech Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had approached the Financial Creditor for working capital, leading to a loan agreement dated June 29, 2011, for Rs. 16,00,000, which was repaid with interest. Another loan agreement was entered on June 13, 2016, for Rs. 55,00,000, subject to interest and penal interest. The Corporate Debtor defaulted on the repayment of the financial debt. The Managing Director of the Corporate Debtor, M. H. Krishnamoorthy, passed away, and the company was taken over by H. Nagarajan. Attempts to retrieve the loan amount failed. The Financial Creditor submitted letters
…Loan agreement entered into between the…
Another loan agreement…