The case involves an application filed by Religare Comtrade Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against RHC Holding Private Limited (Corporate Debtor) due to a default in repayment of a loan. The Financial Creditor disbursed a loan of Rs. 99,00,00,000/- to the Corporate Debtor based on a Memorandum of Understanding (MOU) dated 29.03.2017, with a repayment date of 28.04.2017 and an interest rate of 14% per annum. The Corporate Debtor failed to repay the loan, leading to the application for CIRP.
Religare Comtrade Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against RHC Holding Private Limited (Corporate Debtor). A loan of Rs. 99,00,00,000/- was disbursed by the Financial Creditor to the Corporate Debtor based on a Memorandum of Understanding (MOU) dated 29.03.2017, with a repayment date of 28.04.2017 and an interest rate of 14% per annum. The Corporate Debtor failed to repay the loan by the due date. Several MOUs were executed to extend the repayment date. The Corporate Debtor failed to repay the total outstanding amount of Rs. 1,47,44,73,067.90/- as on 08.01.2021. Demand notices were issued on 04.09.2018 and 10.07.2020. The application
…Sign in to view the parties.
Memorandum of Understanding (MOU) executed…
Original repayment date…
The case involves an application filed by Religare Comtrade Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against RHC Holding Private Limited (Corporate Debtor) due to a default in repayment of a loan. The Financial Creditor disbursed a loan of Rs. 99,00,00,000/- to the Corporate Debtor based on a Memorandum of Understanding (MOU) dated 29.03.2017, with a repayment date of 28.04.2017 and an interest rate of 14% per annum. The Corporate Debtor failed to repay the loan, leading to the application for CIRP.
Religare Comtrade Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against RHC Holding Private Limited (Corporate Debtor). A loan of Rs. 99,00,00,000/- was disbursed by the Financial Creditor to the Corporate Debtor based on a Memorandum of Understanding (MOU) dated 29.03.2017, with a repayment date of 28.04.2017 and an interest rate of 14% per annum. The Corporate Debtor failed to repay the loan by the due date. Several MOUs were executed to extend the repayment date. The Corporate Debtor failed to repay the total outstanding amount of Rs. 1,47,44,73,067.90/- as on 08.01.2021. Demand notices were issued on 04.09.2018 and 10.07.2020. The application
…Memorandum of Understanding (MOU) executed…
Original repayment date…