Mekaster Finlease Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tiaan Consumer Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of outstanding dues amounting to Rs. 1,55,31,200/-. The Financial Creditor, Mekaster Finlease Ltd., claimed that the Corporate Debtor, Tiaan Consumer Limited, had availed a business loan for expanding their business, and a loan agreement was executed on 02/01/2023 for Rs. 1.50 Crore. The Financial Creditor disbursed Rs. 1.46 Crores to the Corporate Debtor. The Corporate Debtor defaulted on repayment, leading to the issuance of a loan recall notice. The Corporate Debtor admitted to receiving the loan amount but cited financial difficulties due to
…Mekaster Finlease Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tiaan Consumer Limited (Corporate Debtor) for defaulting on a loan repayment. A business loan agreement was executed on 02/01/2023, where the Financial Creditor agreed to lend Rs. 1.50 Crore to the Corporate Debtor. The Financial Creditor disbursed Rs. 1.46 Crores to the Corporate Debtor on 2.1.2023 and 2.2.2023. The loan was to be repaid by 15/03/2023, with an interest rate of 12% p.a. at monthly rests and a penal interest of 12% over and above the interest rate for the defaulted amount. The Corporate Debtor defaulted on repayment, leading the Financial Creditor to issue a loan recall notice on 18/03/2023. The Corporate Debtor replied
…Sign in to view the parties.
Business Loan Agreement executed between…
Mekaster Finlease Ltd. disbursed Rs. 1.46…
Mekaster Finlease Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tiaan Consumer Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of outstanding dues amounting to Rs. 1,55,31,200/-. The Financial Creditor, Mekaster Finlease Ltd., claimed that the Corporate Debtor, Tiaan Consumer Limited, had availed a business loan for expanding their business, and a loan agreement was executed on 02/01/2023 for Rs. 1.50 Crore. The Financial Creditor disbursed Rs. 1.46 Crores to the Corporate Debtor. The Corporate Debtor defaulted on repayment, leading to the issuance of a loan recall notice. The Corporate Debtor admitted to receiving the loan amount but cited financial difficulties due to
…Mekaster Finlease Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tiaan Consumer Limited (Corporate Debtor) for defaulting on a loan repayment. A business loan agreement was executed on 02/01/2023, where the Financial Creditor agreed to lend Rs. 1.50 Crore to the Corporate Debtor. The Financial Creditor disbursed Rs. 1.46 Crores to the Corporate Debtor on 2.1.2023 and 2.2.2023. The loan was to be repaid by 15/03/2023, with an interest rate of 12% p.a. at monthly rests and a penal interest of 12% over and above the interest rate for the defaulted amount. The Corporate Debtor defaulted on repayment, leading the Financial Creditor to issue a loan recall notice on 18/03/2023. The Corporate Debtor replied
…Business Loan Agreement executed between…
Mekaster Finlease Ltd. disbursed Rs. 1.46…