The Design Plus Architecture filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Modex International Securities Limited, the corporate debtor. The applicant claimed that the corporate debtor had availed financial facilities via a loan agreement dated 2019-04-01 and defaulted on repayment, with a sum of Rs. 4,46,86,490 outstanding as of 2021-02-25.
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 applicant claimed that the corporate debtor availed financial facility from the financial creditor by way of loan agreement dated 2019-04-01. The corporate debtor defaulted on the repayment of the loan. As of 2021-02-25, a sum of Rs. 4,46,86,490 was due and payable by the respondent company. The applicant proposed Mr. Sanjay Garg as the Interim Resolution Professional (IRP). The corporate debtor acknowledged committing default in repayment of the loan. The registered office of the
…Sign in to view the parties.
Date of the loan agreement between Design…
Date on which the…
The Design Plus Architecture filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Modex International Securities Limited, the corporate debtor. The applicant claimed that the corporate debtor had availed financial facilities via a loan agreement dated 2019-04-01 and defaulted on repayment, with a sum of Rs. 4,46,86,490 outstanding as of 2021-02-25.
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 applicant claimed that the corporate debtor availed financial facility from the financial creditor by way of loan agreement dated 2019-04-01. The corporate debtor defaulted on the repayment of the loan. As of 2021-02-25, a sum of Rs. 4,46,86,490 was due and payable by the respondent company. The applicant proposed Mr. Sanjay Garg as the Interim Resolution Professional (IRP). The corporate debtor acknowledged committing default in repayment of the loan. The registered office of the
…Date of the loan agreement between Design…
Date on which the…