M/s JM Cotton Ginning and Pressing Company Private Limited filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Khandesh Builders Private Limited, alleging default in payment. The petition was based on an Inter Corporate Loan (ICL) agreement. The Corporate Debtor had requested an ICL of Rs. 12,00,00,000/- in 2004, and the Financial Creditor approved it. The Corporate Debtor made payments between 2005 and 2010, leaving an outstanding amount of Rs. 7,81,55,726/- as of 31.03.2010. An Inter Corporate Loan Agreement was executed on 31.03.2010. The Corporate Debtor defaulted on repayment, and the Financial Creditor sent letters requesting repayment from 2011 to
…M/s JM Cotton Ginning and Pressing Company Private Limited (Financial Creditor) filed a petition against M/s Khandesh Builders Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had requested an Inter Corporate Loan (ICL) of Rs. 12,00,00,000/- in 2004, which was approved by the Financial Creditor. The Corporate Debtor made payments between 2005 and 2010, leaving an outstanding amount of Rs. 7,81,55,726/- as of 31.03.2010. An Inter Corporate Loan Agreement was executed on 31.03.2010. The Corporate Debtor defaulted on repayment, and the Financial Creditor sent letters requesting repayment from 2011 to 2021. A demand notice was sent on 15.10.2022, demanding Rs. 25,78,69,618/-. The Corporate Debtor failed to
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The Corporate Debtor requested an Inter…
The board of directors of the Financial…
M/s JM Cotton Ginning and Pressing Company Private Limited filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Khandesh Builders Private Limited, alleging default in payment. The petition was based on an Inter Corporate Loan (ICL) agreement. The Corporate Debtor had requested an ICL of Rs. 12,00,00,000/- in 2004, and the Financial Creditor approved it. The Corporate Debtor made payments between 2005 and 2010, leaving an outstanding amount of Rs. 7,81,55,726/- as of 31.03.2010. An Inter Corporate Loan Agreement was executed on 31.03.2010. The Corporate Debtor defaulted on repayment, and the Financial Creditor sent letters requesting repayment from 2011 to
…M/s JM Cotton Ginning and Pressing Company Private Limited (Financial Creditor) filed a petition against M/s Khandesh Builders Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had requested an Inter Corporate Loan (ICL) of Rs. 12,00,00,000/- in 2004, which was approved by the Financial Creditor. The Corporate Debtor made payments between 2005 and 2010, leaving an outstanding amount of Rs. 7,81,55,726/- as of 31.03.2010. An Inter Corporate Loan Agreement was executed on 31.03.2010. The Corporate Debtor defaulted on repayment, and the Financial Creditor sent letters requesting repayment from 2011 to 2021. A demand notice was sent on 15.10.2022, demanding Rs. 25,78,69,618/-. The Corporate Debtor failed to
…The Corporate Debtor requested an Inter…
The board of directors of the Financial…