Shree Shayama Constructions Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Zyngo EV Mobility Private Limited, the Corporate Debtor. The application was filed because the Corporate Debtor defaulted on a payment of Rs. 1,62,04,609/- as of 01.04.2025. The debt originated from an unsecured loan sanctioned by Chanakya Consultants Private Limited (Original Lender) to the Corporate Debtor on 01.04.2024, which was later assigned to the Financial Creditor.
Chanakya Consultants Private Limited (Original Lender) sanctioned an unsecured loan of Rs. 1,51,68,993/- to Zyngo EV Mobility Private Limited (Corporate Debtor) on 01.04.2024, formalized through a loan agreement executed the same day. The loan amount was disbursed in installments between 10.07.2024 and 01.12.2024. The Original Lender issued a demand letter on 01.03.2025, requesting repayment by 31.03.2025, but the Corporate Debtor defaulted on 01.04.2025. On 01.05.2025, the Original Lender assigned the outstanding loan of Rs. 1,62,04,609/- (including Rs. 10,35,616/- interest) to Shree Shayama Constructions Private Limited (Financial Creditor). The Corporate Debtor was notified of the assignment on 06.05.2025 and given three days to pay. A reminder was sent on
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Chanakya Consultants Private Limited sanctioned…
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Shree Shayama Constructions Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Zyngo EV Mobility Private Limited, the Corporate Debtor. The application was filed because the Corporate Debtor defaulted on a payment of Rs. 1,62,04,609/- as of 01.04.2025. The debt originated from an unsecured loan sanctioned by Chanakya Consultants Private Limited (Original Lender) to the Corporate Debtor on 01.04.2024, which was later assigned to the Financial Creditor.
Chanakya Consultants Private Limited (Original Lender) sanctioned an unsecured loan of Rs. 1,51,68,993/- to Zyngo EV Mobility Private Limited (Corporate Debtor) on 01.04.2024, formalized through a loan agreement executed the same day. The loan amount was disbursed in installments between 10.07.2024 and 01.12.2024. The Original Lender issued a demand letter on 01.03.2025, requesting repayment by 31.03.2025, but the Corporate Debtor defaulted on 01.04.2025. On 01.05.2025, the Original Lender assigned the outstanding loan of Rs. 1,62,04,609/- (including Rs. 10,35,616/- interest) to Shree Shayama Constructions Private Limited (Financial Creditor). The Corporate Debtor was notified of the assignment on 06.05.2025 and given three days to pay. A reminder was sent on
…Chanakya Consultants Private Limited sanctioned…
Disbursement…