Mr. Kishore Bora filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Naman Broadcastings and Telecommunications Private Limited for default in settling an amount of Rs. 1,05,07,500/-. The Corporate Debtor had taken a business loan of Rs. 1,00,00,000/- from the Financial Creditor, which was disbursed on various dates. A loan agreement was executed on 18.02.2021, with a repayment period of 4 months from 18.02.2021 to 17.06.2021 at an interest rate of 12% per annum. The Corporate Debtor failed to repay the principal and interest amount by 17.06.2021. The Financial Creditor sent reminder letters and a legal notice, but the Corporate Debtor failed to make the payment.
Mr. Kishore Bora, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Naman Broadcastings and Telecommunications Private Limited, the Corporate Debtor. The Corporate Debtor, through its Director Mr. Sulabh Dixit, requested a business loan of Rs. 1,00,00,000/- from the Financial Creditor. The Financial Creditor disbursed the loan on various dates. A loan agreement was executed on 18.02.2021, stipulating a repayment period from 18.02.2021 to 17.06.2021 at an interest rate of 12% per annum. The Corporate Debtor failed to repay the principal and interest by 17.06.2021. The Financial Creditor sent a reminder letter on 28.06.2021. The Corporate Debtor requested an extension of the payment
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The Corporate Debtor…
Loan was disbu…
Mr. Kishore Bora filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Naman Broadcastings and Telecommunications Private Limited for default in settling an amount of Rs. 1,05,07,500/-. The Corporate Debtor had taken a business loan of Rs. 1,00,00,000/- from the Financial Creditor, which was disbursed on various dates. A loan agreement was executed on 18.02.2021, with a repayment period of 4 months from 18.02.2021 to 17.06.2021 at an interest rate of 12% per annum. The Corporate Debtor failed to repay the principal and interest amount by 17.06.2021. The Financial Creditor sent reminder letters and a legal notice, but the Corporate Debtor failed to make the payment.
Mr. Kishore Bora, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Naman Broadcastings and Telecommunications Private Limited, the Corporate Debtor. The Corporate Debtor, through its Director Mr. Sulabh Dixit, requested a business loan of Rs. 1,00,00,000/- from the Financial Creditor. The Financial Creditor disbursed the loan on various dates. A loan agreement was executed on 18.02.2021, stipulating a repayment period from 18.02.2021 to 17.06.2021 at an interest rate of 12% per annum. The Corporate Debtor failed to repay the principal and interest by 17.06.2021. The Financial Creditor sent a reminder letter on 28.06.2021. The Corporate Debtor requested an extension of the payment
…The Corporate Debtor…
Loan was disbu…