The case involves an application filed by M/s Capital Finance and Investments LLP under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Shri Krishna Prasadam Limited. The application is based on the alleged default by the Respondent in settling an amount of Rs. 29,28,210/- as of 04.03.2020. A loan agreement was executed between Capital Finance and Investments (initially a partnership firm, later converted to an LLP) and Shri Krishna Prasadam Limited, with an advanced amount of Rs. 21,83,000/- at an interest rate of 10% per annum. The Financial Creditor served a demand letter for repayment, including accrued interest. The Corporate Debtor failed to maintain financial discipline and
…A loan agreement was executed between Capital Finance and Investments (a partnership firm later converted to an LLP) and Shri Krishna Prasadam Limited. The total advanced amount was Rs. 21,83,000/- at an interest rate of 10% per annum. The Financial Creditor served a demand letter for the repayment of Rs. 21,83,000/- along with three years' interest accrued at 10% per annum, amounting to Rs. 6,54,301/-, making the total due Rs. 28,37,301/- as of 04.03.2020. A legal notice was issued for recalling the loan and repayment of the loan amount, which amounted to Rs. 29,28,210/-, including a principal loan amount of Rs. 21,83,000/- and total interest of Rs. 7,45,210/- at 10% per annum as of 04.03.2020. The Corporate Debtor did not maintain financial discipline and committed
…Sign in to view the parties.
Loan agreement took place between Financial…
First demand letter was issued when the term…
The case involves an application filed by M/s Capital Finance and Investments LLP under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Shri Krishna Prasadam Limited. The application is based on the alleged default by the Respondent in settling an amount of Rs. 29,28,210/- as of 04.03.2020. A loan agreement was executed between Capital Finance and Investments (initially a partnership firm, later converted to an LLP) and Shri Krishna Prasadam Limited, with an advanced amount of Rs. 21,83,000/- at an interest rate of 10% per annum. The Financial Creditor served a demand letter for repayment, including accrued interest. The Corporate Debtor failed to maintain financial discipline and
…A loan agreement was executed between Capital Finance and Investments (a partnership firm later converted to an LLP) and Shri Krishna Prasadam Limited. The total advanced amount was Rs. 21,83,000/- at an interest rate of 10% per annum. The Financial Creditor served a demand letter for the repayment of Rs. 21,83,000/- along with three years' interest accrued at 10% per annum, amounting to Rs. 6,54,301/-, making the total due Rs. 28,37,301/- as of 04.03.2020. A legal notice was issued for recalling the loan and repayment of the loan amount, which amounted to Rs. 29,28,210/-, including a principal loan amount of Rs. 21,83,000/- and total interest of Rs. 7,45,210/- at 10% per annum as of 04.03.2020. The Corporate Debtor did not maintain financial discipline and committed
…Loan agreement took place between Financial…
First demand letter was issued when the term…