Mr. Rahul Chaudhry, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. PSB Industries (India) Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 21.05.1981. A short-term loan agreement dated 24.09.2021 was executed between the Applicant and the Corporate Debtor, where the Applicant disbursed Rs. 1,00,00,000/- to the Corporate Debtor, payable at 15% per annum until 24.12.2021.
Mr. Rahul Chaudhry, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. PSB Industries (India) Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 21.05.1981. A short-term loan agreement dated 24.09.2021 was executed between the Applicant and the Corporate Debtor, where the Applicant disbursed Rs. 1,00,00,000/- to the Corporate Debtor, payable at 15% per annum or 1.25% per month until 24.12.2021. The Applicant claimed a total debt of ₹1,05,87,500/-, including the principal loan amount and interest, with the date of default being 24.12.2021. The Applicant sent reminders via email on 17.11.2021, 03.01.2022, 19.01.2022,
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M/s. PSB Industries…
A short-term loan agreement was executed…
Mr. Rahul Chaudhry, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. PSB Industries (India) Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 21.05.1981. A short-term loan agreement dated 24.09.2021 was executed between the Applicant and the Corporate Debtor, where the Applicant disbursed Rs. 1,00,00,000/- to the Corporate Debtor, payable at 15% per annum until 24.12.2021.
Mr. Rahul Chaudhry, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. PSB Industries (India) Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 21.05.1981. A short-term loan agreement dated 24.09.2021 was executed between the Applicant and the Corporate Debtor, where the Applicant disbursed Rs. 1,00,00,000/- to the Corporate Debtor, payable at 15% per annum or 1.25% per month until 24.12.2021. The Applicant claimed a total debt of ₹1,05,87,500/-, including the principal loan amount and interest, with the date of default being 24.12.2021. The Applicant sent reminders via email on 17.11.2021, 03.01.2022, 19.01.2022,
…M/s. PSB Industries…
A short-term loan agreement was executed…