The case involves a petition filed by Synergy Wood and Glass Private Limited ('Financial Creditor/FC') under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shri Aniruddha Wood Private Limited ('Corporate Debtor/CD') due to default in repayment of a loan. A loan agreement was executed on 20.04.2013 between the Corporate Debtor and Financial Creditor, with a term loan facility of Rs. 1,00,00,000/- to be repaid by 31.03.2014. The Corporate Debtor issued a post-dated cheque and a promissory note for the same amount. Upon non-payment, the Financial Creditor sent letters requesting payment, and the parties entered into a Supplemental Agreement on 15.04.2016. The Corporate Debtor failed to repay the
…Synergy Wood and Glass Private Limited (Financial Creditor) extended a loan facility of Rs. 1,00,00,000 to Shri Aniruddha Wood Private Limited (Corporate Debtor) as per a loan agreement dated 20.04.2013. The repayment was due by 31.03.2014. The Corporate Debtor issued a post-dated cheque dated 31.03.2014 and a promissory note dated 20.04.2013 for the loan amount. Upon non-payment, the Financial Creditor sent a letter dated 07.10.2014 requesting payment of Rs. 1,33,36,185 outstanding as of 30.09.2014. The Corporate Debtor acknowledged the debt on 01.12.2014 and expressed willingness to provide land as security. A Supplemental Agreement was entered on 15.04.2016, stating the amount due as of 31.03.2016 was Rs. 2,23,76,209, to be repaid by 31.03.2018. The Corporate Debtor
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Loan agreement executed between Synergy Wood…
Corporate Debtor issued…
The case involves a petition filed by Synergy Wood and Glass Private Limited ('Financial Creditor/FC') under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shri Aniruddha Wood Private Limited ('Corporate Debtor/CD') due to default in repayment of a loan. A loan agreement was executed on 20.04.2013 between the Corporate Debtor and Financial Creditor, with a term loan facility of Rs. 1,00,00,000/- to be repaid by 31.03.2014. The Corporate Debtor issued a post-dated cheque and a promissory note for the same amount. Upon non-payment, the Financial Creditor sent letters requesting payment, and the parties entered into a Supplemental Agreement on 15.04.2016. The Corporate Debtor failed to repay the
…Synergy Wood and Glass Private Limited (Financial Creditor) extended a loan facility of Rs. 1,00,00,000 to Shri Aniruddha Wood Private Limited (Corporate Debtor) as per a loan agreement dated 20.04.2013. The repayment was due by 31.03.2014. The Corporate Debtor issued a post-dated cheque dated 31.03.2014 and a promissory note dated 20.04.2013 for the loan amount. Upon non-payment, the Financial Creditor sent a letter dated 07.10.2014 requesting payment of Rs. 1,33,36,185 outstanding as of 30.09.2014. The Corporate Debtor acknowledged the debt on 01.12.2014 and expressed willingness to provide land as security. A Supplemental Agreement was entered on 15.04.2016, stating the amount due as of 31.03.2016 was Rs. 2,23,76,209, to be repaid by 31.03.2018. The Corporate Debtor
…Loan agreement executed between Synergy Wood…
Corporate Debtor issued…