Kamal Renu Credit and Invest Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against V4 Infrastructure Private Limited, the corporate debtor. The application was based on the corporate debtor's failure to repay a loan amount of Rs. 1,00,00,000/- due as of 31.01.2022, stemming from a loan agreement dated 29.10.2021. The corporate debtor acknowledged the debt but attributed the non-service of the agreed interest to sluggish market conditions due to COVID-19 and court litigations.
Kamal Renu Credit and Invest Private Limited (the financial creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against V4 Infrastructure Private Limited (the corporate debtor). The financial creditor and the corporate debtor entered into a loan agreement dated 29.10.2021. The corporate debtor availed financial facilities from the financial creditor. As of 31.01.2022, a sum of Rs. 1,00,00,000/- was claimed to be due and payable by the corporate debtor. The corporate debtor admitted to the debt but attributed the non-service of the agreed interest to sluggish market conditions due to COVID-19 and court litigations. The financial creditor submitted documents including the
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Kamal Renu Credit and…
V4 Infrastructure…
Kamal Renu Credit and Invest Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against V4 Infrastructure Private Limited, the corporate debtor. The application was based on the corporate debtor's failure to repay a loan amount of Rs. 1,00,00,000/- due as of 31.01.2022, stemming from a loan agreement dated 29.10.2021. The corporate debtor acknowledged the debt but attributed the non-service of the agreed interest to sluggish market conditions due to COVID-19 and court litigations.
Kamal Renu Credit and Invest Private Limited (the financial creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against V4 Infrastructure Private Limited (the corporate debtor). The financial creditor and the corporate debtor entered into a loan agreement dated 29.10.2021. The corporate debtor availed financial facilities from the financial creditor. As of 31.01.2022, a sum of Rs. 1,00,00,000/- was claimed to be due and payable by the corporate debtor. The corporate debtor admitted to the debt but attributed the non-service of the agreed interest to sluggish market conditions due to COVID-19 and court litigations. The financial creditor submitted documents including the
…Kamal Renu Credit and…
V4 Infrastructure…