The application was filed on 2023-06-13 under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Avargreen Organic Foods Private Limited, the Applicant/Financial Creditor, seeking initiation of the Corporate Insolvency Process (CIRP) against Raghupati Construction Private Limited, the Respondent/Corporate Debtor. The application was made under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in Form 1. The Corporate Debtor admitted to the default of non-payment of the outstanding loan amount, which was due and payable on 2022-12-18 and sought 15 days' time from the date of the said letter i.e. till 2023-01-18 to repay the entire outstanding amount. The Corporate Debtor claims that they are completely inclined towards
…Avargreen Organic Foods Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Raghupati Construction Private Limited (Corporate Debtor). The Financial Creditor granted an unsecured loan of Rs. 1 Crore to the Corporate Debtor with an interest rate of 1.5% per month for a short period of 90 days. The loan was disbursed on 2022-09-20 through NEFT/RTGS. The repayment was agreed to be made on or before 2022-12-18. The Financial Creditor sent a letter dated 2022-12-03 to the Corporate Debtor, intimating about the maturity of the loan facility, repayable on or before 2022-12-18, amounting to Rs. 1,04,50,000/-. Another letter dated 2022-12-26 was
…Sign in to view the parties.
Unsecured loan of Rs. 1…
Applicant sent a letter intimating about the…
The application was filed on 2023-06-13 under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Avargreen Organic Foods Private Limited, the Applicant/Financial Creditor, seeking initiation of the Corporate Insolvency Process (CIRP) against Raghupati Construction Private Limited, the Respondent/Corporate Debtor. The application was made under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in Form 1. The Corporate Debtor admitted to the default of non-payment of the outstanding loan amount, which was due and payable on 2022-12-18 and sought 15 days' time from the date of the said letter i.e. till 2023-01-18 to repay the entire outstanding amount. The Corporate Debtor claims that they are completely inclined towards
…Avargreen Organic Foods Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Raghupati Construction Private Limited (Corporate Debtor). The Financial Creditor granted an unsecured loan of Rs. 1 Crore to the Corporate Debtor with an interest rate of 1.5% per month for a short period of 90 days. The loan was disbursed on 2022-09-20 through NEFT/RTGS. The repayment was agreed to be made on or before 2022-12-18. The Financial Creditor sent a letter dated 2022-12-03 to the Corporate Debtor, intimating about the maturity of the loan facility, repayable on or before 2022-12-18, amounting to Rs. 1,04,50,000/-. Another letter dated 2022-12-26 was
…Unsecured loan of Rs. 1…
Applicant sent a letter intimating about the…