M/s Capital Finance and Investments LLP filed an application 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 due to an alleged default in settling an amount of Rs. 29,28,210/- as of 04.03.2020. The loan agreement was executed on 05-10-2016 for a term of three years, having a rate of interest of 10% per annum. The Financial Creditor served a demand letter for the repayment of the loan amount of Rs. 21,83,000/- along with three years' interest accrued on the same @ 10 percent per annum amounting to Rs. 6,54,301/-. The total amount due against M/S Shri Krishna Prasadam Limited was Rs. 28,37,301/- as on 04.03.2020. Despite several notices, the Corporate
…A loan agreement was executed between Capital Finance and Investments (partnership firm, later converted to LLP) and M/s Shri Krishna Prasadam Limited. An amount of Rs. 21,83,000/- was advanced to M/s Shri Krishna Prasadam Limited at an interest rate of 10% per annum. The Financial Creditor served a demand letter for the repayment of the loan amount of Rs. 21,83,000/- along with three years' interest accrued on the same @ 10 percent per annum amounting to Rs. 6,54,301/-. The total amount due against M/S Shri Krishna Prasadam Limited was Rs. 28,37,301/- as on 04.03.2020. A legal notice was issued for recalling the loan and repayment of the loan amount with interest, amounting to Rs. 29,28,210/-, including a principal loan amount of Rs. 21,83,000/- and a total interest
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Loan agreement executed between Financial…
First demand letter issued when the term of…
M/s Capital Finance and Investments LLP filed an application 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 due to an alleged default in settling an amount of Rs. 29,28,210/- as of 04.03.2020. The loan agreement was executed on 05-10-2016 for a term of three years, having a rate of interest of 10% per annum. The Financial Creditor served a demand letter for the repayment of the loan amount of Rs. 21,83,000/- along with three years' interest accrued on the same @ 10 percent per annum amounting to Rs. 6,54,301/-. The total amount due against M/S Shri Krishna Prasadam Limited was Rs. 28,37,301/- as on 04.03.2020. Despite several notices, the Corporate
…A loan agreement was executed between Capital Finance and Investments (partnership firm, later converted to LLP) and M/s Shri Krishna Prasadam Limited. An amount of Rs. 21,83,000/- was advanced to M/s Shri Krishna Prasadam Limited at an interest rate of 10% per annum. The Financial Creditor served a demand letter for the repayment of the loan amount of Rs. 21,83,000/- along with three years' interest accrued on the same @ 10 percent per annum amounting to Rs. 6,54,301/-. The total amount due against M/S Shri Krishna Prasadam Limited was Rs. 28,37,301/- as on 04.03.2020. A legal notice was issued for recalling the loan and repayment of the loan amount with interest, amounting to Rs. 29,28,210/-, including a principal loan amount of Rs. 21,83,000/- and a total interest
…Loan agreement executed between Financial…
First demand letter issued when the term of…