Essbert Fashion Private Limited, along with other financial creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Pytex Jewellers Private Limited. The application was based on the alleged default in repayment of financial facilities availed by Pytex Jewellers Private Limited.
Essbert Fashion Private Limited, along with other financial creditors including Sobhagya Enterprises Private Limited, Ekambar Enterprises Private Limited, and Albatross Homes Private Limited, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Pytex Jewellers Private Limited. The financial creditors claimed that Pytex Jewellers Private Limited had availed financial facilities amounting to Rs. 3,66,61,212, out of which Rs. 15,00,000 had been repaid, leaving a principal amount of Rs. 2,95,00,000 outstanding as of 11.02.2019. The corporate debtor, Pytex Jewellers Private Limited, objected to the petition, arguing that the debt claimed was not a financial debt, the applicant
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Essbert Fashion Private Limited, along with other financial creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Pytex Jewellers Private Limited. The application was based on the alleged default in repayment of financial facilities availed by Pytex Jewellers Private Limited.
Essbert Fashion Private Limited, along with other financial creditors including Sobhagya Enterprises Private Limited, Ekambar Enterprises Private Limited, and Albatross Homes Private Limited, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Pytex Jewellers Private Limited. The financial creditors claimed that Pytex Jewellers Private Limited had availed financial facilities amounting to Rs. 3,66,61,212, out of which Rs. 15,00,000 had been repaid, leaving a principal amount of Rs. 2,95,00,000 outstanding as of 11.02.2019. The corporate debtor, Pytex Jewellers Private Limited, objected to the petition, arguing that the debt claimed was not a financial debt, the applicant
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