Emgee Media Integrated Services Pvt Ltd, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Vyjayanthi Televentures Private Limited, the Corporate Debtor, alleging non-payment of Rs. 9,09,80,000/-. The Financial Creditor claimed the amount was an unsecured loan. The Corporate Debtor denied the averments, claiming the application was not maintainable and that the Financial Creditor had already filed a Company Petition No. 401/241/HDB/2018 under various sections of the Companies Act, 2013, against the Corporate Debtor. The Corporate Debtor also contended that the Financial Creditor and its sister concern were trying to harass the Corporate Debtor by initiating multiple IBC proceedings.
Emgee Media Integrated Services Pvt Ltd (Financial Creditor) filed a petition against Vyjayanthi Televentures Private Limited (Corporate Debtor) under Section 7 of the IBC, claiming non-payment of Rs. 9,09,80,000/-. The Financial Creditor asserted that this amount represented an unsecured loan. The Corporate Debtor denied the debt and argued that the petition was not maintainable, citing a prior Company Petition No. 401/241/HDB/2018 already filed under the Companies Act, 2013. The Corporate Debtor also contended that the Financial Creditor was attempting to harass them with multiple IBC proceedings. The Financial Creditor relied on a letter of confirmation of balance amount dated 09.06.2016. The Corporate Debtor denied the letter, claiming it was given inadvertently.
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The Financial Creditor claimed the date of…
The Financial Creditor relied on a letter of…
Emgee Media Integrated Services Pvt Ltd, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Vyjayanthi Televentures Private Limited, the Corporate Debtor, alleging non-payment of Rs. 9,09,80,000/-. The Financial Creditor claimed the amount was an unsecured loan. The Corporate Debtor denied the averments, claiming the application was not maintainable and that the Financial Creditor had already filed a Company Petition No. 401/241/HDB/2018 under various sections of the Companies Act, 2013, against the Corporate Debtor. The Corporate Debtor also contended that the Financial Creditor and its sister concern were trying to harass the Corporate Debtor by initiating multiple IBC proceedings.
Emgee Media Integrated Services Pvt Ltd (Financial Creditor) filed a petition against Vyjayanthi Televentures Private Limited (Corporate Debtor) under Section 7 of the IBC, claiming non-payment of Rs. 9,09,80,000/-. The Financial Creditor asserted that this amount represented an unsecured loan. The Corporate Debtor denied the debt and argued that the petition was not maintainable, citing a prior Company Petition No. 401/241/HDB/2018 already filed under the Companies Act, 2013. The Corporate Debtor also contended that the Financial Creditor was attempting to harass them with multiple IBC proceedings. The Financial Creditor relied on a letter of confirmation of balance amount dated 09.06.2016. The Corporate Debtor denied the letter, claiming it was given inadvertently.
…The Financial Creditor claimed the date of…
The Financial Creditor relied on a letter of…