The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Ashu Dutt, an Operational Creditor, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Dutt Capital Advisors Private Limited, the Corporate Debtor. The petition was filed on 31.10.2019, claiming a default amount of Rs. 39,72,39,391/-, including principal and interest. The Operational Creditor and Corporate Debtor had entered into Secured Debt Agreements dated 30.09.2014 for payment of Rs. 13.5 Crores, which was due on 01.12.2015, with an 18% interest on delay. The Corporate Debtor failed to pay the amount, leading to the petition.
Ashu Dutt, an Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Dutt Capital Advisors Private Limited, the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed on 31.10.2019, claiming a default of Rs. 39,72,39,391/-, comprising principal (Rs. 36,44,39,809/-) and interest (@18% p.a. up to 30.07.2019 Rs. 3,27,99,582). The Operational Creditor and Corporate Debtor had entered into Secured Debt Agreements dated 30.09.2014 for payment of Rs. 13.5 Crores, originally due on 01.12.2015, with an 18% interest on delay. The agreement was executed in lieu of the Corporate Debtor's inability to pay compensation to the Applicant either in the form of
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Agreement between the Applicant and Corporate…
Execution of Secured Debt Agreements between…
The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Ashu Dutt, an Operational Creditor, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Dutt Capital Advisors Private Limited, the Corporate Debtor. The petition was filed on 31.10.2019, claiming a default amount of Rs. 39,72,39,391/-, including principal and interest. The Operational Creditor and Corporate Debtor had entered into Secured Debt Agreements dated 30.09.2014 for payment of Rs. 13.5 Crores, which was due on 01.12.2015, with an 18% interest on delay. The Corporate Debtor failed to pay the amount, leading to the petition.
Ashu Dutt, an Operational Creditor, filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) against Dutt Capital Advisors Private Limited, the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed on 31.10.2019, claiming a default of Rs. 39,72,39,391/-, comprising principal (Rs. 36,44,39,809/-) and interest (@18% p.a. up to 30.07.2019 Rs. 3,27,99,582). The Operational Creditor and Corporate Debtor had entered into Secured Debt Agreements dated 30.09.2014 for payment of Rs. 13.5 Crores, originally due on 01.12.2015, with an 18% interest on delay. The agreement was executed in lieu of the Corporate Debtor's inability to pay compensation to the Applicant either in the form of
…Agreement between the Applicant and Corporate…
Execution of Secured Debt Agreements between…