Jaysheel Khemani, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Cybercorp Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a financial debt amounting to Rs. 10,81,53,505/-. An Intervention Application was also filed by Anil Kaushik, a director and shareholder of the Corporate Debtor, seeking to intervene in the proceedings.
Jaysheel Khemani (Financial Creditor/Applicant) filed a Company Petition (IB) No. 39/KB/2026 under Section 7 of the IBC against Cybercorp Limited (Corporate Debtor/Respondent).
The petition seeks to initiate CIRP due to a default in repayment of a financial debt amounting to Rs. 10,81,53,505/-.
Cybercorp Limited approached Jaysheel Khemani for financial assistance in May 2025.
A Loan Agreement was entered into on 01.05.2025, providing for a loan amount up to Rs. 10,00,00,000/- to be disbursed in tranches.
The loan tenure was 3 years, from 01.05.2025 until 30.04.2028, with an interest rate of 12% p.a.
The agreement included a default interest rate of 18% p.a. and an Acceleration Clause making the entire outstanding amount due upon any interest default.
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Cybercorp Limited (CD) approached Jaysheel…
Jaysheel Khemani and Cybercorp Limited entered…
Jaysheel Khemani, the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Cybercorp Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a financial debt amounting to Rs. 10,81,53,505/-. An Intervention Application was also filed by Anil Kaushik, a director and shareholder of the Corporate Debtor, seeking to intervene in the proceedings.
Jaysheel Khemani (Financial Creditor/Applicant) filed a Company Petition (IB) No. 39/KB/2026 under Section 7 of the IBC against Cybercorp Limited (Corporate Debtor/Respondent).
The petition seeks to initiate CIRP due to a default in repayment of a financial debt amounting to Rs. 10,81,53,505/-.
Cybercorp Limited approached Jaysheel Khemani for financial assistance in May 2025.
A Loan Agreement was entered into on 01.05.2025, providing for a loan amount up to Rs. 10,00,00,000/- to be disbursed in tranches.
The loan tenure was 3 years, from 01.05.2025 until 30.04.2028, with an interest rate of 12% p.a.
The agreement included a default interest rate of 18% p.a. and an Acceleration Clause making the entire outstanding amount due upon any interest default.
…Cybercorp Limited (CD) approached Jaysheel…
Jaysheel Khemani and Cybercorp Limited entered…