Tulsi Nandan Kant Bansal, the Applicant/Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency process against M/s. P.G. Advertising Private Limited, formerly known as Prabhatam Advertising Private Limited, the Respondent. The Respondent is a company incorporated on 2005-04-08 under the Companies Act, 1956. The applicant stated that a loan agreement was executed between the parties on 2018-08-28, pursuant to which the applicant advanced a loan of Rs. 1,05,00,000 to the respondent, which was to be repaid by 2019-10-31. The loan was disbursed on 2018-08-28 in two tranches of Rs. 85 lakhs
…Tulsi Nandan Kant Bansal (Applicant/Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency process against M/s. P.G. Advertising Private Limited (Respondent). A loan agreement was executed between the parties on 2018-08-28, where the Applicant advanced a loan of Rs. 1,05,00,000 to the Respondent. The loan was to be repaid by 2019-10-31, and it was disbursed in two tranches on 2018-08-28. The Applicant claimed that the Respondent failed to repay the loan despite reminders. The Respondent admitted the debt during the hearing. The applicant has claimed Rs.1,05,00,000/- as an unpaid financial debt.
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M/s. P.G. Advertising…
Loan agreement executed between Tulsi Nandan…
Tulsi Nandan Kant Bansal, the Applicant/Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency process against M/s. P.G. Advertising Private Limited, formerly known as Prabhatam Advertising Private Limited, the Respondent. The Respondent is a company incorporated on 2005-04-08 under the Companies Act, 1956. The applicant stated that a loan agreement was executed between the parties on 2018-08-28, pursuant to which the applicant advanced a loan of Rs. 1,05,00,000 to the respondent, which was to be repaid by 2019-10-31. The loan was disbursed on 2018-08-28 in two tranches of Rs. 85 lakhs
…Tulsi Nandan Kant Bansal (Applicant/Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency process against M/s. P.G. Advertising Private Limited (Respondent). A loan agreement was executed between the parties on 2018-08-28, where the Applicant advanced a loan of Rs. 1,05,00,000 to the Respondent. The loan was to be repaid by 2019-10-31, and it was disbursed in two tranches on 2018-08-28. The Applicant claimed that the Respondent failed to repay the loan despite reminders. The Respondent admitted the debt during the hearing. The applicant has claimed Rs.1,05,00,000/- as an unpaid financial debt.
M/s. P.G. Advertising…
Loan agreement executed between Tulsi Nandan…