SREI Equipment Finance Limited filed a company petition against RS Kamthe Infrastructure Developers Private Limited seeking to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 7,28,54,918/- as of 2022-08-12. The Corporate Debtor argued that the petition was unsustainable under Section 7 of the IBC and that there was no debt or default. They also contended that the default occurred during the moratorium period under Section 10A of the IBC, barring the petition.
SREI Equipment Finance Limited (Financial Creditor) filed a petition against RS Kamthe Infrastructure Developers Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 7,28,54,918/- as of 2022-08-12. The Financial Creditor and Corporate Debtor had executed two Master Facility Agreements (MFAs) dated 2019-07-01 and 2019-09-28. The Corporate Debtor allegedly defaulted on 2021-04-15. The Financial Creditor issued a demand notice on 2021-12-24. The Corporate Debtor argued that the petition was unsustainable, claiming no debt or default and that the default occurred during the moratorium period under Section 10A of the IBC. The Corporate Debtor also alleged that the Financial Creditor had advanced loans to a
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Loan Agreement No.…
Loan Agreement No.…
SREI Equipment Finance Limited filed a company petition against RS Kamthe Infrastructure Developers Private Limited seeking to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Financial Creditor claimed that the Corporate Debtor defaulted on payments amounting to Rs. 7,28,54,918/- as of 2022-08-12. The Corporate Debtor argued that the petition was unsustainable under Section 7 of the IBC and that there was no debt or default. They also contended that the default occurred during the moratorium period under Section 10A of the IBC, barring the petition.
SREI Equipment Finance Limited (Financial Creditor) filed a petition against RS Kamthe Infrastructure Developers Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, claiming a default of Rs. 7,28,54,918/- as of 2022-08-12. The Financial Creditor and Corporate Debtor had executed two Master Facility Agreements (MFAs) dated 2019-07-01 and 2019-09-28. The Corporate Debtor allegedly defaulted on 2021-04-15. The Financial Creditor issued a demand notice on 2021-12-24. The Corporate Debtor argued that the petition was unsustainable, claiming no debt or default and that the default occurred during the moratorium period under Section 10A of the IBC. The Corporate Debtor also alleged that the Financial Creditor had advanced loans to a
…Loan Agreement No.…
Loan Agreement No.…