The Design Plus Architecture filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Modex International Securities Limited. The applicant, Design Plus Architecture, claimed that Modex International Securities Limited had defaulted on a loan agreement dated 01.04.2019. The application was filed due to the corporate debtor's failure to repay the loan amount, with a claimed outstanding amount of Rs. 4,46,86,490 as of 25.02.2021.
Design Plus Architecture, the applicant and financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Modex International Securities Limited, the respondent and corporate debtor. The application was based on a loan agreement dated 01.04.2019, under which Modex International Securities Limited availed financial facilities from Design Plus Architecture. The corporate debtor allegedly defaulted on repaying the loan, with an outstanding amount of Rs. 4,46,86,490 as of 25.02.2021. The applicant submitted documents, including the loan agreement and bank statements, to support its claim. The corporate debtor acknowledged its intention to repay the loan but cited
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Date of the loan agreement between Design…
The applicant claimed…
The Design Plus Architecture filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Modex International Securities Limited. The applicant, Design Plus Architecture, claimed that Modex International Securities Limited had defaulted on a loan agreement dated 01.04.2019. The application was filed due to the corporate debtor's failure to repay the loan amount, with a claimed outstanding amount of Rs. 4,46,86,490 as of 25.02.2021.
Design Plus Architecture, the applicant and financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Modex International Securities Limited, the respondent and corporate debtor. The application was based on a loan agreement dated 01.04.2019, under which Modex International Securities Limited availed financial facilities from Design Plus Architecture. The corporate debtor allegedly defaulted on repaying the loan, with an outstanding amount of Rs. 4,46,86,490 as of 25.02.2021. The applicant submitted documents, including the loan agreement and bank statements, to support its claim. The corporate debtor acknowledged its intention to repay the loan but cited
…Date of the loan agreement between Design…
The applicant claimed…