The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by N.C. Goel and Maya Goel (Financial Creditors) against Piyush Infrastructure India Private Limited (Corporate Debtor). The Financial Creditors claimed to have provided a loan of ₹12,00,000/- to the Corporate Debtor, with an interest rate of 18% per annum. The Corporate Debtor allegedly made some interest payments but later defaulted. The Financial Creditors filed the application seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
N.C. Goel and Maya Goel, residing in Delhi, claimed to be financial creditors of Piyush Infrastructure India Private Limited, located in Uttar Pradesh. Maya Goel provided loans totaling ₹8,00,000 between 2011 and 2013, while N.C. Goel provided loans totaling ₹4,00,000 between 2012 and 2015. The financial creditors claimed an 18% annual interest rate. The corporate debtor allegedly paid interest to Maya Goel until 2016 and to N.C. Goel until 2016. The corporate debtor issued post-dated cheques for repayment of the principal amount, starting from 2018. The financial creditors initiated a complaint under Section 138 of the Negotiable Instruments Act, 1881, after the cheques were dishonored. The corporate debtor argued that no interest was ever paid, there was no written
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Maya Goel and N.C. Goel disbursed loans to…
Corporate Debtor paid…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by N.C. Goel and Maya Goel (Financial Creditors) against Piyush Infrastructure India Private Limited (Corporate Debtor). The Financial Creditors claimed to have provided a loan of ₹12,00,000/- to the Corporate Debtor, with an interest rate of 18% per annum. The Corporate Debtor allegedly made some interest payments but later defaulted. The Financial Creditors filed the application seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.
N.C. Goel and Maya Goel, residing in Delhi, claimed to be financial creditors of Piyush Infrastructure India Private Limited, located in Uttar Pradesh. Maya Goel provided loans totaling ₹8,00,000 between 2011 and 2013, while N.C. Goel provided loans totaling ₹4,00,000 between 2012 and 2015. The financial creditors claimed an 18% annual interest rate. The corporate debtor allegedly paid interest to Maya Goel until 2016 and to N.C. Goel until 2016. The corporate debtor issued post-dated cheques for repayment of the principal amount, starting from 2018. The financial creditors initiated a complaint under Section 138 of the Negotiable Instruments Act, 1881, after the cheques were dishonored. The corporate debtor argued that no interest was ever paid, there was no written
…Maya Goel and N.C. Goel disbursed loans to…
Corporate Debtor paid…