A petition was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016 by A.V. Corporation (Financial Creditor) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Marut Creative Infra Private Limited (Corporate Debtor) due to a default of INR 1,85,00,000/-. The date of default was specified as 01.04.2018. The Financial Creditor claimed that the Corporate Debtor had approached them for a loan in 2016, which was disbursed on 31.03.2017, with a repayment period of one year and an interest rate of 13% p.a. The Corporate Debtor failed to repay the amount after the expiry of the one-year period. The Financial Creditor issued demand letters, but the Corporate Debtor failed to make any repayments. The Corporate Debtor acknowledged its
…A.V. Corporation (Financial Creditor) filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Marut Creative Infra Private Limited (Corporate Debtor). The claim was based on a default of INR 1,85,00,000/-. In 2016, the Corporate Debtor approached the Financial Creditor for a loan, which was formalized through a Loan Agreement dated 25.03.2017. The Financial Creditor disbursed the loan amount on 31.03.2017, with a repayment period of one year and an interest rate of 13% p.a. The Corporate Debtor failed to repay the principal amount and accrued interest after the one-year period expired. The date of default was 01.04.2018. The Financial Creditor issued demand letters on 10.04.2018
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Marut Creative Infra…
Loan Agreement executed…
A petition was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016 by A.V. Corporation (Financial Creditor) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Marut Creative Infra Private Limited (Corporate Debtor) due to a default of INR 1,85,00,000/-. The date of default was specified as 01.04.2018. The Financial Creditor claimed that the Corporate Debtor had approached them for a loan in 2016, which was disbursed on 31.03.2017, with a repayment period of one year and an interest rate of 13% p.a. The Corporate Debtor failed to repay the amount after the expiry of the one-year period. The Financial Creditor issued demand letters, but the Corporate Debtor failed to make any repayments. The Corporate Debtor acknowledged its
…A.V. Corporation (Financial Creditor) filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Marut Creative Infra Private Limited (Corporate Debtor). The claim was based on a default of INR 1,85,00,000/-. In 2016, the Corporate Debtor approached the Financial Creditor for a loan, which was formalized through a Loan Agreement dated 25.03.2017. The Financial Creditor disbursed the loan amount on 31.03.2017, with a repayment period of one year and an interest rate of 13% p.a. The Corporate Debtor failed to repay the principal amount and accrued interest after the one-year period expired. The date of default was 01.04.2018. The Financial Creditor issued demand letters on 10.04.2018
…Marut Creative Infra…
Loan Agreement executed…