Baba Iron Industries Private Limited, claiming to be a Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Matarani Infrastructure Pvt. Ltd., the Corporate Debtor.
Baba Iron Industries Private Limited claimed to be a Financial Creditor, being a registered Non-Banking Finance Company.
Baba Iron Industries Private Limited granted a business loan of Rs. 1,25,00,000/- to Matarani Infrastructure Pvt. Ltd. at an interest rate of 15% per annum.
The loan was disbursed in installments during July 2024.
The Corporate Debtor executed a loan agreement dated 9th July 2024.
The Corporate Debtor failed to service the interest payment for the quarter ended 30th September 2024, which became due on 7th October 2024.
The Financial Creditor issued letters dated 30th December 2024 and 20th February 2025 for payment of interest with penal interest.
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Loan agreement executed…
First instalment of…
Baba Iron Industries Private Limited, claiming to be a Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Matarani Infrastructure Pvt. Ltd., the Corporate Debtor.
Baba Iron Industries Private Limited claimed to be a Financial Creditor, being a registered Non-Banking Finance Company.
Baba Iron Industries Private Limited granted a business loan of Rs. 1,25,00,000/- to Matarani Infrastructure Pvt. Ltd. at an interest rate of 15% per annum.
The loan was disbursed in installments during July 2024.
The Corporate Debtor executed a loan agreement dated 9th July 2024.
The Corporate Debtor failed to service the interest payment for the quarter ended 30th September 2024, which became due on 7th October 2024.
The Financial Creditor issued letters dated 30th December 2024 and 20th February 2025 for payment of interest with penal interest.
…Loan agreement executed…
First instalment of…