Implenia Services and Solutions Private Limited, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Glance Investments (India) Private Limited, the Corporate Debtor. The Financial Creditor alleged that the Corporate Debtor defaulted in making payment of an aggregate amount of Rs. 2,50,65,319/-, which included a principal amount of Rs. 1,94,61,910/- and interest of Rs. 56,03,409/- till 31st October 2021. The Corporate Debtor had approached the Financial Creditor for a corporate loan of Rs. 6,00,00,000/- for business purposes, which was agreed upon and disbursed in multiple tranches. The Financial Creditor's name was changed from
…Implenia Services and Solutions Private Limited (Financial Creditor) filed a petition against Glance Investments (India) Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached the Financial Creditor for a corporate loan of Rs. 6,00,00,000 for business purposes, as evidenced by a letter dated 25th April 2018. The Financial Creditor agreed to advance a loan of Rs. 6,00,00,000 in multiple tranches, as per a letter dated 31st May 2018. A Loan Agreement was executed on 29th June 2018. The loan was disbursed in tranches, totaling Rs. 1,94,61,910. The Financial Creditor's name changed from InnovSource Private Limited on 18th October 2018, and it merged with European Aviation Holding Company Private
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Corporate Debtor wrote to the Financial…
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Implenia Services and Solutions Private Limited, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Glance Investments (India) Private Limited, the Corporate Debtor. The Financial Creditor alleged that the Corporate Debtor defaulted in making payment of an aggregate amount of Rs. 2,50,65,319/-, which included a principal amount of Rs. 1,94,61,910/- and interest of Rs. 56,03,409/- till 31st October 2021. The Corporate Debtor had approached the Financial Creditor for a corporate loan of Rs. 6,00,00,000/- for business purposes, which was agreed upon and disbursed in multiple tranches. The Financial Creditor's name was changed from
…Implenia Services and Solutions Private Limited (Financial Creditor) filed a petition against Glance Investments (India) Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor approached the Financial Creditor for a corporate loan of Rs. 6,00,00,000 for business purposes, as evidenced by a letter dated 25th April 2018. The Financial Creditor agreed to advance a loan of Rs. 6,00,00,000 in multiple tranches, as per a letter dated 31st May 2018. A Loan Agreement was executed on 29th June 2018. The loan was disbursed in tranches, totaling Rs. 1,94,61,910. The Financial Creditor's name changed from InnovSource Private Limited on 18th October 2018, and it merged with European Aviation Holding Company Private
…Corporate Debtor wrote to the Financial…
Financial Creditor…
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