The case involves a Company Petition filed by Hewlett Packard Financial Services (India) Private Limited ('the Financial Creditor') under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Nufuture Digital (India) Limited ('the Corporate Debtor'). The petition arises from the non-payment of dues related to an unsecured loan and lease granted to the Corporate Debtor under a Master Rental and Financing Agreement (MFRA). The Financial Creditor and Corporate Debtor entered into the MFRA on June 28, 2016, which included 8 lease contracts and 83 loan contracts, resulting in a total exposure of Rs. 241 crores. The obligation was guaranteed by Mr. Kishore Biyani, a promoter of the Corporate
…Hewlett Packard Financial Services (India) Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Nufuture Digital (India) Limited (Corporate Debtor) seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition is based on the non-payment of dues related to an unsecured loan and lease granted to the Corporate Debtor. On June 28, 2016, both parties entered into a Master Rental and Financing Agreement (MFRA), which included 8 lease contracts and 83 loan contracts, resulting in a total exposure of Rs. 241 crores. The obligation was guaranteed by Mr. Kishore Biyani. During FY 2020-21, the MFRA was restructured twice. Post-restructuring, the Corporate Debtor made payments until
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Hewlett Packard Financial Services (India)…
During FY 2020-21, the MFRA underwent…
The case involves a Company Petition filed by Hewlett Packard Financial Services (India) Private Limited ('the Financial Creditor') under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Nufuture Digital (India) Limited ('the Corporate Debtor'). The petition arises from the non-payment of dues related to an unsecured loan and lease granted to the Corporate Debtor under a Master Rental and Financing Agreement (MFRA). The Financial Creditor and Corporate Debtor entered into the MFRA on June 28, 2016, which included 8 lease contracts and 83 loan contracts, resulting in a total exposure of Rs. 241 crores. The obligation was guaranteed by Mr. Kishore Biyani, a promoter of the Corporate
…Hewlett Packard Financial Services (India) Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Nufuture Digital (India) Limited (Corporate Debtor) seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition is based on the non-payment of dues related to an unsecured loan and lease granted to the Corporate Debtor. On June 28, 2016, both parties entered into a Master Rental and Financing Agreement (MFRA), which included 8 lease contracts and 83 loan contracts, resulting in a total exposure of Rs. 241 crores. The obligation was guaranteed by Mr. Kishore Biyani. During FY 2020-21, the MFRA was restructured twice. Post-restructuring, the Corporate Debtor made payments until
…Hewlett Packard Financial Services (India)…
During FY 2020-21, the MFRA underwent…