The case involves a petition filed by Mr. Pradeep Devichand Agrawal, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dreams Construction (Pune) Private Limited, the Corporate Debtor. The Financial Creditor claimed a default of Rs. 5,26,70,291/- including accrued interest. The Corporate Debtor was incorporated on 09.08.2011. The Financial Creditor submitted that a loan was extended to the Corporate Debtor from 24.03.2015 to 16.05.2017 for business expansion, disbursing Rs. 3,83,00,000/- in various tranches. The Corporate Debtor failed to repay the loan, leading to the issuance of a legal notice on 01.10.2019 demanding repayment of Rs. 4,00,61,378/-. The Corporate
…Mr. Pradeep Devichand Agrawal, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dreams Construction (Pune) Private Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 5,26,70,291/-, which included accrued interest up to 31.03.2019. The loan was extended from 24.03.2015 to 16.05.2017 for the Corporate Debtor's business expansion, with a total disbursement of Rs. 3,83,00,000/-. The date of default was stated as 31.03.2019. A legal notice was sent to the Corporate Debtor on 01.10.2019 demanding repayment of Rs. 4,00,61,378/-. The Corporate Debtor did not file any written reply to the
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Dreams Construction…
Loan was extended to the Corporate Debtor from…
The case involves a petition filed by Mr. Pradeep Devichand Agrawal, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dreams Construction (Pune) Private Limited, the Corporate Debtor. The Financial Creditor claimed a default of Rs. 5,26,70,291/- including accrued interest. The Corporate Debtor was incorporated on 09.08.2011. The Financial Creditor submitted that a loan was extended to the Corporate Debtor from 24.03.2015 to 16.05.2017 for business expansion, disbursing Rs. 3,83,00,000/- in various tranches. The Corporate Debtor failed to repay the loan, leading to the issuance of a legal notice on 01.10.2019 demanding repayment of Rs. 4,00,61,378/-. The Corporate
…Mr. Pradeep Devichand Agrawal, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dreams Construction (Pune) Private Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 5,26,70,291/-, which included accrued interest up to 31.03.2019. The loan was extended from 24.03.2015 to 16.05.2017 for the Corporate Debtor's business expansion, with a total disbursement of Rs. 3,83,00,000/-. The date of default was stated as 31.03.2019. A legal notice was sent to the Corporate Debtor on 01.10.2019 demanding repayment of Rs. 4,00,61,378/-. The Corporate Debtor did not file any written reply to the
…Dreams Construction…
Loan was extended to the Corporate Debtor from…