The petition was filed by Giridhar Infracon Private Limited and RCA Softtech Private Limited, financial creditors, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Sky Infrastructure Private Limited, the corporate debtor. The petitioners claimed that the corporate debtor defaulted on loan repayments. The loans were advanced in February-March 2018 with an interest rate of 24% per annum, repayable on demand but not later than 24 months from the date of disbursal. The petitioners advanced a total of Rs. 1,00,00,000/- to the corporate debtor. The date of default was mentioned as 19.03.2020, which is the date on which the amount of Rs. 12,50,000/- fell due i.e. 24 months from the date of
…Giridhar Infracon Private Limited and RCA Softtech Private Limited (Financial Creditors) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sky Infrastructure Private Limited (Corporate Debtor). The Financial Creditors advanced loans to the Corporate Debtor in February-March 2018, totaling Rs. 1,00,00,000/- at an interest rate of 24% per annum. The loans were to be repaid on demand but not later than 24 months from the date of disbursal. The last tranche of Rs. 12,50,000/- was advanced on 20.03.2018. The Corporate Debtor made a lumpsum payment of Rs. 15,00,000/- on 01.01.2019, which was adjusted against the interest due. As of 31.08.2022, an amount of Rs. 1,67,29,324/- was
…Sign in to view the parties.
Loans advanced to the…
Corporate Debtor made a…
The petition was filed by Giridhar Infracon Private Limited and RCA Softtech Private Limited, financial creditors, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Sky Infrastructure Private Limited, the corporate debtor. The petitioners claimed that the corporate debtor defaulted on loan repayments. The loans were advanced in February-March 2018 with an interest rate of 24% per annum, repayable on demand but not later than 24 months from the date of disbursal. The petitioners advanced a total of Rs. 1,00,00,000/- to the corporate debtor. The date of default was mentioned as 19.03.2020, which is the date on which the amount of Rs. 12,50,000/- fell due i.e. 24 months from the date of
…Giridhar Infracon Private Limited and RCA Softtech Private Limited (Financial Creditors) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sky Infrastructure Private Limited (Corporate Debtor). The Financial Creditors advanced loans to the Corporate Debtor in February-March 2018, totaling Rs. 1,00,00,000/- at an interest rate of 24% per annum. The loans were to be repaid on demand but not later than 24 months from the date of disbursal. The last tranche of Rs. 12,50,000/- was advanced on 20.03.2018. The Corporate Debtor made a lumpsum payment of Rs. 15,00,000/- on 01.01.2019, which was adjusted against the interest due. As of 31.08.2022, an amount of Rs. 1,67,29,324/- was
…Loans advanced to the…
Corporate Debtor made a…