Amour Infrastructure Pvt. Ltd., the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Digital Integrated Technologies Pvt. Ltd., the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The financial creditor had extended a loan of Rs. 1,00,00,000/- to the corporate debtor, carrying an interest of 24% p.a., based on a Loan-cum-Share Pledge Agreement dated 20.11.2017. The loan was disbursed in five tranches. The corporate debtor repaid Rs. 36,00,000/- but failed to repay the remaining amount. The financial creditor also alleged that the corporate debtor, through its director Shailesh Anandani, pledged shares and issued post-dated cheques for repayment, but the cheques were
…Amour Infrastructure Pvt. Ltd. (Financial Creditor) extended a loan of Rs. 1,00,00,000/- to Digital Integrated Technologies Pvt. Ltd. (Corporate Debtor) at 24% p.a. interest, formalized through a Loan-cum-Share Pledge Agreement dated 20.11.2017. The loan was disbursed in five tranches between November 2017 and February 2018. The Corporate Debtor repaid Rs. 36,00,000/-. An additional loan of ₹20,00,000/- was given on 16.11.2018 carrying an interest of 24% p.a. Shailesh Anandani, director of the Corporate Debtor, provided a demand promissory note and pledged 30% of the company's shares as security. Six post-dated cheques were issued, dated between March and July 2018. The Corporate Debtor claimed that, by mutual agreement, the loan was repaid to M/s DIT Televentures Pvt.
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Agreement between Amour Infrastructure Pvt. Ltd.…
Rs. 20,00,000/-…
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Amour Infrastructure Pvt. Ltd., the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Digital Integrated Technologies Pvt. Ltd., the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The financial creditor had extended a loan of Rs. 1,00,00,000/- to the corporate debtor, carrying an interest of 24% p.a., based on a Loan-cum-Share Pledge Agreement dated 20.11.2017. The loan was disbursed in five tranches. The corporate debtor repaid Rs. 36,00,000/- but failed to repay the remaining amount. The financial creditor also alleged that the corporate debtor, through its director Shailesh Anandani, pledged shares and issued post-dated cheques for repayment, but the cheques were
…Amour Infrastructure Pvt. Ltd. (Financial Creditor) extended a loan of Rs. 1,00,00,000/- to Digital Integrated Technologies Pvt. Ltd. (Corporate Debtor) at 24% p.a. interest, formalized through a Loan-cum-Share Pledge Agreement dated 20.11.2017. The loan was disbursed in five tranches between November 2017 and February 2018. The Corporate Debtor repaid Rs. 36,00,000/-. An additional loan of ₹20,00,000/- was given on 16.11.2018 carrying an interest of 24% p.a. Shailesh Anandani, director of the Corporate Debtor, provided a demand promissory note and pledged 30% of the company's shares as security. Six post-dated cheques were issued, dated between March and July 2018. The Corporate Debtor claimed that, by mutual agreement, the loan was repaid to M/s DIT Televentures Pvt.
…Agreement between Amour Infrastructure Pvt. Ltd.…
Rs. 20,00,000/-…
Sign in to view related legal provisions.