M/s. Naman Infradevelopers Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against M/s. Sadhna Media Private Limited due to an alleged default in settling an amount of Rs. 1,00,86,967. The Financial Creditor and Corporate Debtor entered into a loan agreement dated 18.02.2021, where the Financial Creditor agreed to advance a short-term loan of Rs. 1,00,00,000 to the Corporate Debtor. The Corporate Debtor sought an extension of the loan period, which was not agreed to by the Financial Creditor, who then sent a loan recall notice. The Corporate Debtor
…M/s. Naman Infradevelopers 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 M/s. Sadhna Media Private Limited (Corporate Debtor). The Financial Creditor's company is involved in the business of developing land and building, while the Corporate Debtor is engaged in setting up TC channels and networks. In February 2021, the Corporate Debtor needed funds for working capital and approached the Financial Creditor for a loan of Rs. 1,00,00,000, which was accepted. A loan agreement was entered on 18.02.2021, with an interest rate of 4% per month for 3 months, with repayment due on 10.06.2021. The Financial Creditor advanced the loan in
…Sign in to view the parties.
Financial Creditor and Corporate Debtor entered…
Rs. 23,00,000.00…
M/s. Naman Infradevelopers Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against M/s. Sadhna Media Private Limited due to an alleged default in settling an amount of Rs. 1,00,86,967. The Financial Creditor and Corporate Debtor entered into a loan agreement dated 18.02.2021, where the Financial Creditor agreed to advance a short-term loan of Rs. 1,00,00,000 to the Corporate Debtor. The Corporate Debtor sought an extension of the loan period, which was not agreed to by the Financial Creditor, who then sent a loan recall notice. The Corporate Debtor
…M/s. Naman Infradevelopers 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 M/s. Sadhna Media Private Limited (Corporate Debtor). The Financial Creditor's company is involved in the business of developing land and building, while the Corporate Debtor is engaged in setting up TC channels and networks. In February 2021, the Corporate Debtor needed funds for working capital and approached the Financial Creditor for a loan of Rs. 1,00,00,000, which was accepted. A loan agreement was entered on 18.02.2021, with an interest rate of 4% per month for 3 months, with repayment due on 10.06.2021. The Financial Creditor advanced the loan in
…Financial Creditor and Corporate Debtor entered…
Rs. 23,00,000.00…