The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Miller Traders Private Limited (Financial Creditor) against Jai Gokul Towers Private Limited (Corporate Debtor) seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor disbursed a loan of Rs. 6 Crore to Accurate Traders Private Limited (Principal Borrower), with Jai Gokul Towers Private Limited acting as a guarantor. The Corporate Debtor failed to repay the outstanding amount of Rs. 8,43,25,953/-, which includes the principal amount and accrued interest. The date of default is claimed as November 24, 2021.
Miller Traders Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Jai Gokul Towers Private Limited, the Corporate Debtor. The application seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Financial Creditor had disbursed a loan of Rs. 6 Crore to Accurate Traders Private Limited, the Principal Borrower, with the Corporate Debtor acting as a guarantor. An Irrevocable Deed of Guarantee was executed between the Financial Creditor and the Corporate Debtor on October 21, 2021. The Principal Borrower failed to repay the loan within the stipulated time. The total amount of debt due, including principal and interest, is Rs. 8,43,25,953/-. The
…Sign in to view the parties.
Irrevocable Deed of Guarantee executed…
Disbursement of Rs. 6…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Miller Traders Private Limited (Financial Creditor) against Jai Gokul Towers Private Limited (Corporate Debtor) seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor disbursed a loan of Rs. 6 Crore to Accurate Traders Private Limited (Principal Borrower), with Jai Gokul Towers Private Limited acting as a guarantor. The Corporate Debtor failed to repay the outstanding amount of Rs. 8,43,25,953/-, which includes the principal amount and accrued interest. The date of default is claimed as November 24, 2021.
Miller Traders Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Jai Gokul Towers Private Limited, the Corporate Debtor. The application seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Financial Creditor had disbursed a loan of Rs. 6 Crore to Accurate Traders Private Limited, the Principal Borrower, with the Corporate Debtor acting as a guarantor. An Irrevocable Deed of Guarantee was executed between the Financial Creditor and the Corporate Debtor on October 21, 2021. The Principal Borrower failed to repay the loan within the stipulated time. The total amount of debt due, including principal and interest, is Rs. 8,43,25,953/-. The
…Irrevocable Deed of Guarantee executed…
Disbursement of Rs. 6…