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) for a default in repayment of a loan amounting to Rs. 4,89,24,986/-. The Financial Creditor had previously granted loans to M/s Emergent Traders Private Limited, and the Corporate Debtor acted as a guarantor for these loans. The Financial Creditor had already initiated CIRP against the principal borrower, M/s Emergent Traders Private Limited, and the application was admitted.
M/s Bhabani Pigments Pvt. Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Transparents Agro Pvt. Ltd. (Corporate Debtor), seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a loan amounting to Rs. 4,89,24,986/-. The Financial Creditor had extended loans to M/s Emergent Traders Private Limited, with the Corporate Debtor acting as a guarantor. A Business Loan Agreement was executed on 10.10.2018, where the Financial Creditor granted a loan of Rs. 3,00,00,000/- to M/s Emergent Traders Private Limited, repayable with interest at 12% per annum. The Financial Creditor disbursed Rs. 3,00,00,000/- on 15.10.2018 and 20.03.2019. Subsequently, another
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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) for a default in repayment of a loan amounting to Rs. 4,89,24,986/-. The Financial Creditor had previously granted loans to M/s Emergent Traders Private Limited, and the Corporate Debtor acted as a guarantor for these loans. The Financial Creditor had already initiated CIRP against the principal borrower, M/s Emergent Traders Private Limited, and the application was admitted.
M/s Bhabani Pigments Pvt. Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Transparents Agro Pvt. Ltd. (Corporate Debtor), seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a loan amounting to Rs. 4,89,24,986/-. The Financial Creditor had extended loans to M/s Emergent Traders Private Limited, with the Corporate Debtor acting as a guarantor. A Business Loan Agreement was executed on 10.10.2018, where the Financial Creditor granted a loan of Rs. 3,00,00,000/- to M/s Emergent Traders Private Limited, repayable with interest at 12% per annum. The Financial Creditor disbursed Rs. 3,00,00,000/- on 15.10.2018 and 20.03.2019. Subsequently, another
…A Business Loan Agreement was executed between…
The Financial Creditor disbursed Rs.…