Shivam Agrioils Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Shree Krishna Vanaspati Industries Private Limited, the corporate debtor. The applicant claimed that the corporate debtor defaulted on repaying a loan of Rs. 10,46,00,000. The corporate debtor argued that the application was barred by limitation and that the disputes were purely contractual. The corporate debtor also stated that the amount was not advanced for the time value of money.
Shivam Agrioils Private Limited (the applicant/financial creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Shree Krishna Vanaspati Industries Private Limited (the respondent/corporate debtor). The applicant claimed that the corporate debtor had availed financial facility from them and defaulted on repaying a sum of Rs. 10,46,00,000. The applicant presented documents, including an agreement to sell dated 19.03.2016 and bank statements, to support their claim. The corporate debtor argued that the application was barred by limitation, the disputes were purely contractual, and the amount was not advanced for the time value of money. The corporate debtor also stated that
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Mr. Puneet Kumar Agarwal, authorized by…
MoU executed…
Shivam Agrioils Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Shree Krishna Vanaspati Industries Private Limited, the corporate debtor. The applicant claimed that the corporate debtor defaulted on repaying a loan of Rs. 10,46,00,000. The corporate debtor argued that the application was barred by limitation and that the disputes were purely contractual. The corporate debtor also stated that the amount was not advanced for the time value of money.
Shivam Agrioils Private Limited (the applicant/financial creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Shree Krishna Vanaspati Industries Private Limited (the respondent/corporate debtor). The applicant claimed that the corporate debtor had availed financial facility from them and defaulted on repaying a sum of Rs. 10,46,00,000. The applicant presented documents, including an agreement to sell dated 19.03.2016 and bank statements, to support their claim. The corporate debtor argued that the application was barred by limitation, the disputes were purely contractual, and the amount was not advanced for the time value of money. The corporate debtor also stated that
…Mr. Puneet Kumar Agarwal, authorized by…
MoU executed…