Oversure Enterprises Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Siri Longview Tea & Agro Limited, alleging default on a loan of Rs. 25,00,000 with 12% interest. The Financial Creditor claimed a total default of Rs. 25,25,000 as of December 31, 2019. The Corporate Debtor denied the debt and claimed that the Financial Creditor is a shell company providing accommodation entries. The Income Tax Department also issued notices and assessment orders against the Corporate Debtor regarding the loan transaction.
Oversure Enterprises Private Limited (Financial Creditor) filed a petition against Siri Longview Tea & Agro Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, claiming a default on a loan of Rs. 25,00,000 with 12% interest. The Financial Creditor transferred Rs. 25,00,000 to the Corporate Debtor on August 3, 2016. The Corporate Debtor issued a cheque for repayment, which was dishonored due to insufficient funds. The Financial Creditor issued a notice under Section 138 of the Negotiable Instruments Act, 1881. The Corporate Debtor admitted the debt in a letter dated September 27, 2019, but claimed the Financial Creditor was a shell company. The Income Tax Department issued notices and assessment orders against the Corporate
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Oversure Enterprises Private Limited…
Siri Longview Tea &…
Oversure Enterprises Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Siri Longview Tea & Agro Limited, alleging default on a loan of Rs. 25,00,000 with 12% interest. The Financial Creditor claimed a total default of Rs. 25,25,000 as of December 31, 2019. The Corporate Debtor denied the debt and claimed that the Financial Creditor is a shell company providing accommodation entries. The Income Tax Department also issued notices and assessment orders against the Corporate Debtor regarding the loan transaction.
Oversure Enterprises Private Limited (Financial Creditor) filed a petition against Siri Longview Tea & Agro Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, claiming a default on a loan of Rs. 25,00,000 with 12% interest. The Financial Creditor transferred Rs. 25,00,000 to the Corporate Debtor on August 3, 2016. The Corporate Debtor issued a cheque for repayment, which was dishonored due to insufficient funds. The Financial Creditor issued a notice under Section 138 of the Negotiable Instruments Act, 1881. The Corporate Debtor admitted the debt in a letter dated September 27, 2019, but claimed the Financial Creditor was a shell company. The Income Tax Department issued notices and assessment orders against the Corporate
…Oversure Enterprises Private Limited…
Siri Longview Tea &…