Genesis Comtrade Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Opulent Infradevelopers Private Limited. The applicant, Genesis Comtrade, claimed that Opulent Infradevelopers had defaulted on a loan agreement dated 31.03.2021. The application was filed due to the corporate debtor's failure to repay the loan amount, with an outstanding sum of Rs. 1,07,54,100/- as of 16.08.2022.
Genesis Comtrade Private Limited, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Opulent Infradevelopers Private Limited, the corporate debtor. A loan agreement dated 31.03.2021 existed between the parties. Opulent Infradevelopers defaulted on repaying the loan, leading to an outstanding amount of Rs. 1,07,54,100/- as of 16.08.2022. The corporate debtor acknowledged its inability to repay due to financial difficulties. The applicant proposed Mr. Devendra Umrao as the Interim Resolution Professional (IRP). The registered office of the corporate debtor is in New Delhi, giving the NCLT territorial jurisdiction. The applicant provided necessary
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Loan agreement executed between Genesis…
Navneet Saxena…
Genesis Comtrade Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Opulent Infradevelopers Private Limited. The applicant, Genesis Comtrade, claimed that Opulent Infradevelopers had defaulted on a loan agreement dated 31.03.2021. The application was filed due to the corporate debtor's failure to repay the loan amount, with an outstanding sum of Rs. 1,07,54,100/- as of 16.08.2022.
Genesis Comtrade Private Limited, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Opulent Infradevelopers Private Limited, the corporate debtor. A loan agreement dated 31.03.2021 existed between the parties. Opulent Infradevelopers defaulted on repaying the loan, leading to an outstanding amount of Rs. 1,07,54,100/- as of 16.08.2022. The corporate debtor acknowledged its inability to repay due to financial difficulties. The applicant proposed Mr. Devendra Umrao as the Interim Resolution Professional (IRP). The registered office of the corporate debtor is in New Delhi, giving the NCLT territorial jurisdiction. The applicant provided necessary
…Loan agreement executed between Genesis…
Navneet Saxena…