Nineicon Private Limited, the Financial Creditor/Petitioner, filed a Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ecool Gaming Solutions Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudication Authority) Rules, 2016, for an unresolved Financial Debt of Rs. 2,00,00,000/-. The Petitioner and the Corporate Debtor entered into a Loan Agreement dated 16.07.2019, where the Petitioner disbursed Rs. 2,00,00,000/- to the Corporate Debtor. Despite several requests, the Corporate Debtor failed to clear its dues, leading the Petitioner to issue a notice on 23.12.2019 demanding repayment.
Nineicon Private Limited (Financial Creditor) and Ecool Gaming Solutions Private Limited (Corporate Debtor) entered into a Loan Agreement dated 2019-07-16. The Financial Creditor disbursed Rs. 2,00,00,000/- to the Corporate Debtor. Emails were sent by the Financial Creditor to the Corporate Debtor on 2019-10-07, 2019-11-11, and 2019-12-06, requesting repayment. The Corporate Debtor failed to clear its dues. A demand notice was issued by the Financial Creditor to the Corporate Debtor on 2019-12-23 demanding repayment of Rs. 2,00,00,000/-. The Corporate Debtor acknowledged receiving Rs. 2,00,00,000/- from the Petitioner as per the balance sheet dated 2020-06-12. The Corporate Debtor did not file any reply contesting the Company Petition.
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Nineicon Private Limited, the Financial Creditor/Petitioner, filed a Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ecool Gaming Solutions Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudication Authority) Rules, 2016, for an unresolved Financial Debt of Rs. 2,00,00,000/-. The Petitioner and the Corporate Debtor entered into a Loan Agreement dated 16.07.2019, where the Petitioner disbursed Rs. 2,00,00,000/- to the Corporate Debtor. Despite several requests, the Corporate Debtor failed to clear its dues, leading the Petitioner to issue a notice on 23.12.2019 demanding repayment.
Nineicon Private Limited (Financial Creditor) and Ecool Gaming Solutions Private Limited (Corporate Debtor) entered into a Loan Agreement dated 2019-07-16. The Financial Creditor disbursed Rs. 2,00,00,000/- to the Corporate Debtor. Emails were sent by the Financial Creditor to the Corporate Debtor on 2019-10-07, 2019-11-11, and 2019-12-06, requesting repayment. The Corporate Debtor failed to clear its dues. A demand notice was issued by the Financial Creditor to the Corporate Debtor on 2019-12-23 demanding repayment of Rs. 2,00,00,000/-. The Corporate Debtor acknowledged receiving Rs. 2,00,00,000/- from the Petitioner as per the balance sheet dated 2020-06-12. The Corporate Debtor did not file any reply contesting the Company Petition.
Petitioner and…
Petitioner disbursed…