The case involves an application filed by Ambrane India Private Limited, the Applicant/Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process (CIRP) against MKMG Jewel Developers Private Limited, the Respondent/Corporate Debtor, due to a default amount of Rs. 1,42,49,431/- inclusive of applicable interest. The applicant disbursed an unsecured loan of Rs. 1,25,00,000/- to the corporate debtor in January 2018, which was to be repaid by December 31, 2018. The corporate debtor failed to repay the loan, leading to the application for CIRP.
Ambrane India Private Limited (Applicant/Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against MKMG Jewel Developers Private Limited (Respondent/Corporate Debtor). The default amount was Rs. 1,42,49,431/-, inclusive of interest, with the default date being 01.01.2019. The applicant is a private limited company incorporated on 23.10.2012 and is engaged in the business of buying and selling computer peripherals, hardware, software, and mobile accessories. The corporate debtor is also a private limited company incorporated on 22.03.2012 and is engaged in the business of gold, silver, platinum, pearls, bullions, diamond, and jewelry. In January 2018, the corporate debtor approached the applicant for
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Mr. Mukesh Kumar, on behalf of the Corporate…
Applicant c…
The case involves an application filed by Ambrane India Private Limited, the Applicant/Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process (CIRP) against MKMG Jewel Developers Private Limited, the Respondent/Corporate Debtor, due to a default amount of Rs. 1,42,49,431/- inclusive of applicable interest. The applicant disbursed an unsecured loan of Rs. 1,25,00,000/- to the corporate debtor in January 2018, which was to be repaid by December 31, 2018. The corporate debtor failed to repay the loan, leading to the application for CIRP.
Ambrane India Private Limited (Applicant/Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against MKMG Jewel Developers Private Limited (Respondent/Corporate Debtor). The default amount was Rs. 1,42,49,431/-, inclusive of interest, with the default date being 01.01.2019. The applicant is a private limited company incorporated on 23.10.2012 and is engaged in the business of buying and selling computer peripherals, hardware, software, and mobile accessories. The corporate debtor is also a private limited company incorporated on 22.03.2012 and is engaged in the business of gold, silver, platinum, pearls, bullions, diamond, and jewelry. In January 2018, the corporate debtor approached the applicant for
…Mr. Mukesh Kumar, on behalf of the Corporate…
Applicant c…