The application, CP (IB) No. 216/MB/C-IV/2022, was filed by Somesh A. Naik & Ors., the Financial Creditors/Applicants, under section 7 of the Insolvency & Bankruptcy Code, 2016 (I&B Code), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Isinox Limited, the Corporate Debtor. The applicants claimed a total default of Rs.4,37,14,449/-, comprising Rs.2,34,17,965/- as the principal amount and the remaining as interest. The Corporate Debtor purchased goods from Manhar Alloys Private Limited, with an understanding to pay within 120 days. The Financial Creditors were lending money through CRED, a fintech platform, against bills to various parties, and disbursed amounts to the Corporate Debtor under a facilitation arrangement. The
…Somesh A. Naik & Ors., the Financial Creditors/Applicants, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Isinox Limited, the Corporate Debtor. The applicants claimed a total default of Rs.4,37,14,449/-, comprising Rs.2,34,17,965/- as the principal amount and the remaining as interest. The Date of Default is stated to be 31.10.2021. The Financial Creditors were lending money through CRED, a fintech platform, against bills to various parties, and disbursed amounts to the Corporate Debtor under a facilitation arrangement. The Corporate Debtor was to repay the amount within 60 days from the date of disbursement. The Corporate Debtor purchased goods from Manhar
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The Date of Default is…
The Petition i…
The application, CP (IB) No. 216/MB/C-IV/2022, was filed by Somesh A. Naik & Ors., the Financial Creditors/Applicants, under section 7 of the Insolvency & Bankruptcy Code, 2016 (I&B Code), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Isinox Limited, the Corporate Debtor. The applicants claimed a total default of Rs.4,37,14,449/-, comprising Rs.2,34,17,965/- as the principal amount and the remaining as interest. The Corporate Debtor purchased goods from Manhar Alloys Private Limited, with an understanding to pay within 120 days. The Financial Creditors were lending money through CRED, a fintech platform, against bills to various parties, and disbursed amounts to the Corporate Debtor under a facilitation arrangement. The
…Somesh A. Naik & Ors., the Financial Creditors/Applicants, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Isinox Limited, the Corporate Debtor. The applicants claimed a total default of Rs.4,37,14,449/-, comprising Rs.2,34,17,965/- as the principal amount and the remaining as interest. The Date of Default is stated to be 31.10.2021. The Financial Creditors were lending money through CRED, a fintech platform, against bills to various parties, and disbursed amounts to the Corporate Debtor under a facilitation arrangement. The Corporate Debtor was to repay the amount within 60 days from the date of disbursement. The Corporate Debtor purchased goods from Manhar
…The Date of Default is…
The Petition i…