DBS Bank India Limited filed IBA/617/2020 under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Easun Products of India Private Limited, claiming a financial debt of Rs.42,50,02,894.15. The Corporate Debtor raised a preliminary objection that the application was barred by limitation, arguing that the debt acknowledgment was beyond the limitation period. The Financial Creditor filed IA(IBC)/668(CHE)/2022 seeking to introduce additional documents to counter the limitation argument, which the Corporate Debtor opposed due to the delay in filing.
DBS Bank India Limited (Financial Creditor) filed an application (IBA/617/2020) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Easun Products of India Private Limited (Corporate Debtor) for a default of Rs.42,50,02,894.15 as of 30.06.2020. The Financial Creditor submitted various documents, including working capital facilities agreements, hypothecation agreements, guarantees, and demand promissory notes, to support its claim. The Corporate Debtor contested the application, arguing that it was barred by limitation, as the debt acknowledgment was beyond the three-year limitation period. The Financial Creditor then filed an interlocutory application (IA(IBC)/668(CHE)/2022) to introduce additional documents to overcome the limitation issue, which was
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DBS Bank India Limited filed IBA/617/2020 under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Easun Products of India Private Limited, claiming a financial debt of Rs.42,50,02,894.15. The Corporate Debtor raised a preliminary objection that the application was barred by limitation, arguing that the debt acknowledgment was beyond the limitation period. The Financial Creditor filed IA(IBC)/668(CHE)/2022 seeking to introduce additional documents to counter the limitation argument, which the Corporate Debtor opposed due to the delay in filing.
DBS Bank India Limited (Financial Creditor) filed an application (IBA/617/2020) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Easun Products of India Private Limited (Corporate Debtor) for a default of Rs.42,50,02,894.15 as of 30.06.2020. The Financial Creditor submitted various documents, including working capital facilities agreements, hypothecation agreements, guarantees, and demand promissory notes, to support its claim. The Corporate Debtor contested the application, arguing that it was barred by limitation, as the debt acknowledgment was beyond the three-year limitation period. The Financial Creditor then filed an interlocutory application (IA(IBC)/668(CHE)/2022) to introduce additional documents to overcome the limitation issue, which was
…Working Capital…
Agreement for…