The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s Bhabani Pigments Pvt. Ltd. (Financial Creditor) against M/s. Transparents Agro Pvt. Ltd. (Corporate Debtor/Guarantor). The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a default in repayment of a loan. The Corporate Debtor had provided a guarantee for a loan taken by M/s Emergent Traders Private Limited from the Financial Creditor. The Financial Creditor had already initiated CIRP against M/s Emergent Traders Private Limited.
M/s Bhabani Pigments Pvt. Ltd. (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Transparents Agro Pvt. Ltd. (Corporate Debtor/Guarantor) seeking to initiate CIRP. The Financial Creditor had extended a loan to M/s Emergent Traders Private Limited, for which the Corporate Debtor acted as a guarantor. A Business Loan Agreement was executed on 10.10.2018, wherein the FC granted a loan of Rs. 3,00,00,000/- repayable with interest @ 12% per annum payable at the time of maturity i.e. 31.01.2020. The Financial Creditor disbursed Rs. 3,00,00,000/- to M/s Emergent Traders Private Limited on 15.10.2018 and 20.03.2019. Subsequently, another loan agreement was executed on 20.12.2019 for Rs. 1,50,00,000/- with interest
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A Business Loan Agreement was executed between…
The Financial Creditor disbursed Rs.…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s Bhabani Pigments Pvt. Ltd. (Financial Creditor) against M/s. Transparents Agro Pvt. Ltd. (Corporate Debtor/Guarantor). The Financial Creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor based on a default in repayment of a loan. The Corporate Debtor had provided a guarantee for a loan taken by M/s Emergent Traders Private Limited from the Financial Creditor. The Financial Creditor had already initiated CIRP against M/s Emergent Traders Private Limited.
M/s Bhabani Pigments Pvt. Ltd. (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Transparents Agro Pvt. Ltd. (Corporate Debtor/Guarantor) seeking to initiate CIRP. The Financial Creditor had extended a loan to M/s Emergent Traders Private Limited, for which the Corporate Debtor acted as a guarantor. A Business Loan Agreement was executed on 10.10.2018, wherein the FC granted a loan of Rs. 3,00,00,000/- repayable with interest @ 12% per annum payable at the time of maturity i.e. 31.01.2020. The Financial Creditor disbursed Rs. 3,00,00,000/- to M/s Emergent Traders Private Limited on 15.10.2018 and 20.03.2019. Subsequently, another loan agreement was executed on 20.12.2019 for Rs. 1,50,00,000/- with interest
…A Business Loan Agreement was executed between…
The Financial Creditor disbursed Rs.…