Umaveer Buildcon Private Limited, the Financial Creditor/Applicant, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Jouelana Construction Private Limited (formerly known as Gold Star Builders and Developers Private Limited), the Corporate Debtor/Respondent/JCPL. The Corporate Debtor approached the Financial Creditor in January 2024 for an intercorporate deposit of Rs. 1,10,00,000. An Inter-Corporate Deposit/Loan Facility Agreement was executed on 01/02/2024 with an interest rate of 15% p.a. and a maturity date of 31/07/2024. The Corporate Debtor failed to repay the loan amount, leading to the issuance of loan recall notices on 13/08/2024 and 21/08/2024. The Corporate Debtor
…Umaveer Buildcon Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Jouelana Construction Private Limited (Corporate Debtor). The Corporate Debtor approached the Financial Creditor in January 2024 for an intercorporate deposit of Rs. 1,10,00,000. An Inter-Corporate Deposit/Loan Facility Agreement was executed on 01/02/2024 with an interest rate of 15% p.a. and a maturity date of 31/07/2024. The Corporate Debtor failed to repay the loan amount by the maturity date, resulting in a default. The Financial Creditor issued loan recall notices on 13/08/2024 and 21/08/2024, but the Corporate Debtor still failed to repay. The total amount of default
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Corporate Debtor approached the Financial…
Inter-Corporate Deposit/Loan Facility Agreement…
Umaveer Buildcon Private Limited, the Financial Creditor/Applicant, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Jouelana Construction Private Limited (formerly known as Gold Star Builders and Developers Private Limited), the Corporate Debtor/Respondent/JCPL. The Corporate Debtor approached the Financial Creditor in January 2024 for an intercorporate deposit of Rs. 1,10,00,000. An Inter-Corporate Deposit/Loan Facility Agreement was executed on 01/02/2024 with an interest rate of 15% p.a. and a maturity date of 31/07/2024. The Corporate Debtor failed to repay the loan amount, leading to the issuance of loan recall notices on 13/08/2024 and 21/08/2024. The Corporate Debtor
…Umaveer Buildcon Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Jouelana Construction Private Limited (Corporate Debtor). The Corporate Debtor approached the Financial Creditor in January 2024 for an intercorporate deposit of Rs. 1,10,00,000. An Inter-Corporate Deposit/Loan Facility Agreement was executed on 01/02/2024 with an interest rate of 15% p.a. and a maturity date of 31/07/2024. The Corporate Debtor failed to repay the loan amount by the maturity date, resulting in a default. The Financial Creditor issued loan recall notices on 13/08/2024 and 21/08/2024, but the Corporate Debtor still failed to repay. The total amount of default
…Corporate Debtor approached the Financial…
Inter-Corporate Deposit/Loan Facility Agreement…