Shashwat Enterprises, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Labhanshi Agritech Private Limited, the corporate debtor, due to a default in repayment of a financial debt.
Shashwat Enterprises, through its sole proprietor Pushpendra Jain, extended a short-term unsecured loan to Labhanshi Agritech Private Limited.
A loan agreement was executed on 04.12.2024, with a repayment deadline of 31.03.2025.
The Corporate Debtor defaulted on the repayment of Rs. 2,78,07,500/- as of 31.03.2025.
The Financial Creditor issued multiple reminders and demand letters to the Corporate Debtor.
The Corporate Debtor acknowledged its liability in a letter dated 26.06.2025.
The applicant nominated Navin Khandelwal as Interim Resolution Professional.
The Adjudicating Authority found that the debt and default were duly established.
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Loan agreement executed between Shashwat…
Disbursal o…
Shashwat Enterprises, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Labhanshi Agritech Private Limited, the corporate debtor, due to a default in repayment of a financial debt.
Shashwat Enterprises, through its sole proprietor Pushpendra Jain, extended a short-term unsecured loan to Labhanshi Agritech Private Limited.
A loan agreement was executed on 04.12.2024, with a repayment deadline of 31.03.2025.
The Corporate Debtor defaulted on the repayment of Rs. 2,78,07,500/- as of 31.03.2025.
The Financial Creditor issued multiple reminders and demand letters to the Corporate Debtor.
The Corporate Debtor acknowledged its liability in a letter dated 26.06.2025.
The applicant nominated Navin Khandelwal as Interim Resolution Professional.
The Adjudicating Authority found that the debt and default were duly established.
Loan agreement executed between Shashwat…
Disbursal o…