The petition was filed jointly by Panghat Barter Private Limited and Srumaan Retail Private Limited, the Financial Creditors, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Jai Ambey Metals Private Limited, the Corporate Debtor.
Panghat Barter Private Limited and Srumaan Retail Private Limited jointly filed a petition under Section 7 of the IBC to initiate CIRP against Jai Ambey Metals Private Limited.
Panghat Barter Private Limited granted a loan of Rs. 65,00,000 to Jai Ambey Metals Private Limited at an interest rate of 9% p.a.
Srumaan Retail Private Limited granted a loan of Rs. 85,00,000 to Jai Ambey Metals Private Limited at an interest rate of 9% p.a.
Jai Ambey Metals Private Limited defaulted on the repayment of the loan and interest.
The Financial Creditors issued demand notices to the Corporate Debtor, which were acknowledged but the debt remained unpaid.
The Financial Creditors claimed a total outstanding amount of Rs. 1,53,48,488, inclusive of principal and interest.
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The petition was filed jointly by Panghat Barter Private Limited and Srumaan Retail Private Limited, the Financial Creditors, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Jai Ambey Metals Private Limited, the Corporate Debtor.
Panghat Barter Private Limited and Srumaan Retail Private Limited jointly filed a petition under Section 7 of the IBC to initiate CIRP against Jai Ambey Metals Private Limited.
Panghat Barter Private Limited granted a loan of Rs. 65,00,000 to Jai Ambey Metals Private Limited at an interest rate of 9% p.a.
Srumaan Retail Private Limited granted a loan of Rs. 85,00,000 to Jai Ambey Metals Private Limited at an interest rate of 9% p.a.
Jai Ambey Metals Private Limited defaulted on the repayment of the loan and interest.
The Financial Creditors issued demand notices to the Corporate Debtor, which were acknowledged but the debt remained unpaid.
The Financial Creditors claimed a total outstanding amount of Rs. 1,53,48,488, inclusive of principal and interest.
…Applicant No. 1 Company previously known as…
Applicant No. 2…