The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s Manavta Tradelink Private Limited (Financial Creditor) against M/s Manikaran Vincom Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had an authorized share capital of Rs. 45,00,000/- and a paid-up capital of Rs. 44,54,000/-, incorporated on 28.01.2008. The Financial Creditor claimed a default of Rs. 2,72,04,493/- as on 25.12.2022, including interest at 12% per annum from 31.03.2021.
M/s Manavta Tradelink Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Manikaran Vincom Private Limited, seeking to initiate CIRP. The Corporate Debtor had an authorized share capital of Rs. 45,00,000/- and a paid-up capital of Rs. 44,54,000/-, incorporated on 28.01.2008. The Financial Creditor claimed a default of Rs. 2,72,04,493/- as on 25.12.2022, including interest at 12% per annum from 31.03.2021. The loan was originally sanctioned by SSA Hire Purchase Private Limited as an unsecured loan of Rs. 1,40,00,000/- on 01.04.2016. The debt was assigned to M/s Manavta Tradelink Private Limited. The Corporate Debtor acknowledged the debt and sought an extension of time for repayment in a letter dated 15.07.2022.
…Sign in to view the parties.
M/s Manikaran Vincom Private Limited was…
SSA Hire Purchase Private Limited sanctioned…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s Manavta Tradelink Private Limited (Financial Creditor) against M/s Manikaran Vincom Private Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had an authorized share capital of Rs. 45,00,000/- and a paid-up capital of Rs. 44,54,000/-, incorporated on 28.01.2008. The Financial Creditor claimed a default of Rs. 2,72,04,493/- as on 25.12.2022, including interest at 12% per annum from 31.03.2021.
M/s Manavta Tradelink Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Manikaran Vincom Private Limited, seeking to initiate CIRP. The Corporate Debtor had an authorized share capital of Rs. 45,00,000/- and a paid-up capital of Rs. 44,54,000/-, incorporated on 28.01.2008. The Financial Creditor claimed a default of Rs. 2,72,04,493/- as on 25.12.2022, including interest at 12% per annum from 31.03.2021. The loan was originally sanctioned by SSA Hire Purchase Private Limited as an unsecured loan of Rs. 1,40,00,000/- on 01.04.2016. The debt was assigned to M/s Manavta Tradelink Private Limited. The Corporate Debtor acknowledged the debt and sought an extension of time for repayment in a letter dated 15.07.2022.
…M/s Manikaran Vincom Private Limited was…
SSA Hire Purchase Private Limited sanctioned…