Capacit'e Infraprojects Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Epitome Residency Private Limited for initiating Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 18,04,17,518. The financial assistance was extended as Inter-Corporate Deposits (ICD) with a loan agreement dated 07.05.2018. The loan was secured by a mortgage of properties. The repayment tenure was revised multiple times through supplemental agreements. The Corporate Debtor failed to adhere to the repayment schedule, leading to the issuance of a demand notice on 08.04.2024.
Capacit'e Infraprojects Limited (Financial Creditor) extended financial assistance to Epitome Residency Private Limited (Corporate Debtor) in the form of Inter-Corporate Deposits (ICD) amounting to Rs. 15,00,00,000 at a simple interest of 15% p.a. via a loan agreement dated 07.05.2018. The ICD was disbursed in three tranches on 08.05.2018, each amounting to Rs. 5 Crores, with repayment structured in nine installments. The loan was secured by a mortgage of apartments/flats. The repayment tenure was revised multiple times through supplemental agreements, with the last revision extending the repayment of Rs. 9,99,99,999/- until 12.07.2022. The Corporate Debtor defaulted on repayment, leading to an outstanding debt of Rs. 18,04,17,518 as of 12.07.2022. A demand notice was
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Loan agreement between Capacit'e…
ICD disbursed in three…
Capacit'e Infraprojects Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Epitome Residency Private Limited for initiating Corporate Insolvency Resolution Process (CIRP) due to a default of Rs. 18,04,17,518. The financial assistance was extended as Inter-Corporate Deposits (ICD) with a loan agreement dated 07.05.2018. The loan was secured by a mortgage of properties. The repayment tenure was revised multiple times through supplemental agreements. The Corporate Debtor failed to adhere to the repayment schedule, leading to the issuance of a demand notice on 08.04.2024.
Capacit'e Infraprojects Limited (Financial Creditor) extended financial assistance to Epitome Residency Private Limited (Corporate Debtor) in the form of Inter-Corporate Deposits (ICD) amounting to Rs. 15,00,00,000 at a simple interest of 15% p.a. via a loan agreement dated 07.05.2018. The ICD was disbursed in three tranches on 08.05.2018, each amounting to Rs. 5 Crores, with repayment structured in nine installments. The loan was secured by a mortgage of apartments/flats. The repayment tenure was revised multiple times through supplemental agreements, with the last revision extending the repayment of Rs. 9,99,99,999/- until 12.07.2022. The Corporate Debtor defaulted on repayment, leading to an outstanding debt of Rs. 18,04,17,518 as of 12.07.2022. A demand notice was
…Loan agreement between Capacit'e…
ICD disbursed in three…