The case involves an application filed by Netafim Agricultural Financing Agency Private Limited, the Financial Creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Shraddha Energy And Infraprojects Private Limited, the Corporate Debtor. The financial creditor had provided FCE facility for disbursement of loan of Rs.9,16,07,065/- to 995 farmers as per the Tripartite agreement dated 03.10.2013 entered between the Financial Creditor, Corporate Debtor and Netafim Irrigation (India) Private Limited. The Corporate Debtor also entered a Continuing Deed of Guarantee dated 03.10.2013 guaranteeing the Financial Creditor to repay the amount due from the recommended farmer
…Netafim Agricultural Financing Agency Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shraddha Energy And Infraprojects Private Limited (Corporate Debtor). The Financial Creditor provided a loan facility to farmers through a Tripartite Agreement dated 03.10.2013 involving the Corporate Debtor and Netafim Irrigation (India) Private Limited. The Corporate Debtor guaranteed the repayment of loans to the Financial Creditor. The total default amount claimed by the Financial Creditor is Rs. 5,41,34,813/-. The date of default is considered to be 15.04.2021. The Corporate Debtor disputed the claim, stating that the Financial Creditor
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Tripartite agreement entered between the…
Corporate Debtor entered a Continuing Deed…
The case involves an application filed by Netafim Agricultural Financing Agency Private Limited, the Financial Creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Shraddha Energy And Infraprojects Private Limited, the Corporate Debtor. The financial creditor had provided FCE facility for disbursement of loan of Rs.9,16,07,065/- to 995 farmers as per the Tripartite agreement dated 03.10.2013 entered between the Financial Creditor, Corporate Debtor and Netafim Irrigation (India) Private Limited. The Corporate Debtor also entered a Continuing Deed of Guarantee dated 03.10.2013 guaranteeing the Financial Creditor to repay the amount due from the recommended farmer
…Netafim Agricultural Financing Agency Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shraddha Energy And Infraprojects Private Limited (Corporate Debtor). The Financial Creditor provided a loan facility to farmers through a Tripartite Agreement dated 03.10.2013 involving the Corporate Debtor and Netafim Irrigation (India) Private Limited. The Corporate Debtor guaranteed the repayment of loans to the Financial Creditor. The total default amount claimed by the Financial Creditor is Rs. 5,41,34,813/-. The date of default is considered to be 15.04.2021. The Corporate Debtor disputed the claim, stating that the Financial Creditor
…Tripartite agreement entered between the…
Corporate Debtor entered a Continuing Deed…