The case involves an application filed by Indian Renewable Energy Development Agency Limited (Financial Creditor) under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Green Elephant India Private Limited (Corporate Debtor). The Financial Creditor claims a total default of Rs. 11,40,97,470 as of 31.12.2020. The Corporate Debtor did not file a reply despite multiple opportunities.
Indian Renewable Energy Development Agency Limited (Financial Creditor) filed an application under Section 7 of the I&B Code to initiate CIRP against Green Elephant India Private Limited (Corporate Debtor). The Financial Creditor claimed a default of Rs. 11,40,97,470 as of 31.12.2020. The Date of NPA is stated to be 01.04.2018. The Financial Creditor had granted a Term Loan of Rs. 5,41,00,000 on 29.09.2010 and another Term Loan of Rs. 8,10,00,000 on 26.07.2013. The Corporate Debtor agreed to pay interest at 12.25% for Project No. 1910 and 13.50% for Project No. 2028. The Corporate Debtor failed to file a reply despite multiple opportunities. The Corporate Debtor appeared on 04.05.2022 and admitted the debt and default. A notice dated 21.01.2019 was issued under
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Financial Creditor…
Financial Creditor…
The case involves an application filed by Indian Renewable Energy Development Agency Limited (Financial Creditor) under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Green Elephant India Private Limited (Corporate Debtor). The Financial Creditor claims a total default of Rs. 11,40,97,470 as of 31.12.2020. The Corporate Debtor did not file a reply despite multiple opportunities.
Indian Renewable Energy Development Agency Limited (Financial Creditor) filed an application under Section 7 of the I&B Code to initiate CIRP against Green Elephant India Private Limited (Corporate Debtor). The Financial Creditor claimed a default of Rs. 11,40,97,470 as of 31.12.2020. The Date of NPA is stated to be 01.04.2018. The Financial Creditor had granted a Term Loan of Rs. 5,41,00,000 on 29.09.2010 and another Term Loan of Rs. 8,10,00,000 on 26.07.2013. The Corporate Debtor agreed to pay interest at 12.25% for Project No. 1910 and 13.50% for Project No. 2028. The Corporate Debtor failed to file a reply despite multiple opportunities. The Corporate Debtor appeared on 04.05.2022 and admitted the debt and default. A notice dated 21.01.2019 was issued under
…Financial Creditor…
Financial Creditor…