The case involves a petition filed by Sudhir T Deshpande, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dhanada Corporation Limited, the Corporate Debtor, alleging default in payment of a financial debt. The Corporate Debtor was earlier known as Vedant Hotels Limited. The Financial Creditor claimed a default amount of Rs. 23,22,23,222/- as on 30.09.2018, with further interest at 19% p.a. from 01.10.2018. The Corporate Debtor contested the maintainability of the petition, arguing that the Financial Creditor had not demonstrated any valid claim or debt and that the claim was time-barred.
Sudhir T Deshpande, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dhanada Corporation Limited, the Corporate Debtor, alleging default in payment of a financial debt. The Corporate Debtor was incorporated on 14.07.1986. The Financial Creditor claimed that the total amount of debt granted was Rs. 4,61,00,000/-, and the amount claimed to be in default was Rs. 23,22,23,222/- as on 30.09.2018, with further interest at 19% p.a. from 01.10.2018. The Corporate Debtor argued that the Financial Creditor had not demonstrated any valid claim or debt and that the claim was time-barred. The Corporate Debtor had issued cheques aggregating to Rs. 2,20,00,000/-
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Dhanada Corpo…
Rs. 3,15,00…
The case involves a petition filed by Sudhir T Deshpande, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dhanada Corporation Limited, the Corporate Debtor, alleging default in payment of a financial debt. The Corporate Debtor was earlier known as Vedant Hotels Limited. The Financial Creditor claimed a default amount of Rs. 23,22,23,222/- as on 30.09.2018, with further interest at 19% p.a. from 01.10.2018. The Corporate Debtor contested the maintainability of the petition, arguing that the Financial Creditor had not demonstrated any valid claim or debt and that the claim was time-barred.
Sudhir T Deshpande, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dhanada Corporation Limited, the Corporate Debtor, alleging default in payment of a financial debt. The Corporate Debtor was incorporated on 14.07.1986. The Financial Creditor claimed that the total amount of debt granted was Rs. 4,61,00,000/-, and the amount claimed to be in default was Rs. 23,22,23,222/- as on 30.09.2018, with further interest at 19% p.a. from 01.10.2018. The Corporate Debtor argued that the Financial Creditor had not demonstrated any valid claim or debt and that the claim was time-barred. The Corporate Debtor had issued cheques aggregating to Rs. 2,20,00,000/-
…Dhanada Corpo…
Rs. 3,15,00…