Gokul Sai Udyog LLP, the financial creditor/applicant, filed a company petition (IB) No. 350/KB/2022 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Katyayni Contractors Private Limited, the corporate debtor/respondent, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed to have disbursed Rs. 6 crores to the corporate debtor based on a resolution passed in the partner's meeting of the LLP held on 11.05.2017, with an interest rate of 12% per annum. The corporate debtor repaid Rs. 2 crores, leaving a balance of Rs. 4 crores. The financial creditor issued legal notices demanding repayment, which were replied to by the corporate debtor denying the due and default. The corporate debtor contended that the Rs. 6
…Gokul Sai Udyog LLP (Financial Creditor) claimed to have disbursed Rs. 6 crores to Katyayni Contractors Private Limited (Corporate Debtor) based on a resolution dated 11.05.2017, with a 12% per annum interest rate. The disbursement occurred in four tranches during May and October 2017. The Corporate Debtor repaid Rs. 2 crores on 23.10.2017. The Financial Creditor issued legal notices on 14.04.2022 and 18.06.2022 demanding repayment of the outstanding Rs. 4 crores. The Corporate Debtor replied, stating that the Rs. 6 crores was an advance for construction materials, Rs. 4 crores worth of materials were supplied, and Rs. 2 crores were repaid. The Financial Creditor disputed this, stating that no GST invoices were provided. The resolution dated 11.05.2017 contained a
…Sign in to view the parties.
Resolution passed by Gokul Sai Udyog LLP to…
Rs. 1 crore disbursed…
Gokul Sai Udyog LLP, the financial creditor/applicant, filed a company petition (IB) No. 350/KB/2022 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Katyayni Contractors Private Limited, the corporate debtor/respondent, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed to have disbursed Rs. 6 crores to the corporate debtor based on a resolution passed in the partner's meeting of the LLP held on 11.05.2017, with an interest rate of 12% per annum. The corporate debtor repaid Rs. 2 crores, leaving a balance of Rs. 4 crores. The financial creditor issued legal notices demanding repayment, which were replied to by the corporate debtor denying the due and default. The corporate debtor contended that the Rs. 6
…Gokul Sai Udyog LLP (Financial Creditor) claimed to have disbursed Rs. 6 crores to Katyayni Contractors Private Limited (Corporate Debtor) based on a resolution dated 11.05.2017, with a 12% per annum interest rate. The disbursement occurred in four tranches during May and October 2017. The Corporate Debtor repaid Rs. 2 crores on 23.10.2017. The Financial Creditor issued legal notices on 14.04.2022 and 18.06.2022 demanding repayment of the outstanding Rs. 4 crores. The Corporate Debtor replied, stating that the Rs. 6 crores was an advance for construction materials, Rs. 4 crores worth of materials were supplied, and Rs. 2 crores were repaid. The Financial Creditor disputed this, stating that no GST invoices were provided. The resolution dated 11.05.2017 contained a
…Resolution passed by Gokul Sai Udyog LLP to…
Rs. 1 crore disbursed…