Kamyabi Vanijya Private Limited (Financial Creditor/Applicant), a Non-Banking Financial Corporation, filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016, against Arthur Turnkey Projects Limited (Corporate Debtor/Respondent) for initiating Corporate Insolvency Resolution Process (CIRP). The application was filed due to a default in repayment of a financial debt amounting to Rs. 1,09,05,423/-. The Corporate Debtor had obtained a short-term loan of Rs. 1,00,00,000/- at 9% p.a. interest, repayable by March 31, 2025, but failed to repay the principal and accrued interest.
The Financial Creditor, Kamyabi Vanijya Private Limited, is a Non-Banking Financial Corporation engaged in money lending and investments in securities.
The Corporate Debtor, Arthur Turnkey Projects Limited, is engaged in Fabrication and other ancillary activities of iron, steel and MIS items.
The Financial Creditor filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP against the Corporate Debtor.
The Corporate Debtor approached the Financial Creditor for a short-term loan accommodation for its business requirements.
A loan agreement dated 19.11.2024 was executed between the Financial Creditor and the Corporate Debtor.
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A loan agreement was executed between the…
The principal loan amount along with accrued…
Kamyabi Vanijya Private Limited (Financial Creditor/Applicant), a Non-Banking Financial Corporation, filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016, against Arthur Turnkey Projects Limited (Corporate Debtor/Respondent) for initiating Corporate Insolvency Resolution Process (CIRP). The application was filed due to a default in repayment of a financial debt amounting to Rs. 1,09,05,423/-. The Corporate Debtor had obtained a short-term loan of Rs. 1,00,00,000/- at 9% p.a. interest, repayable by March 31, 2025, but failed to repay the principal and accrued interest.
The Financial Creditor, Kamyabi Vanijya Private Limited, is a Non-Banking Financial Corporation engaged in money lending and investments in securities.
The Corporate Debtor, Arthur Turnkey Projects Limited, is engaged in Fabrication and other ancillary activities of iron, steel and MIS items.
The Financial Creditor filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP against the Corporate Debtor.
The Corporate Debtor approached the Financial Creditor for a short-term loan accommodation for its business requirements.
A loan agreement dated 19.11.2024 was executed between the Financial Creditor and the Corporate Debtor.
…A loan agreement was executed between the…
The principal loan amount along with accrued…