M/s Stemztech Industries Private Limited (Financial Creditor/Applicant) filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Oscorp Industries Private Limited (Corporate Debtor/Respondent). The Applicant claimed to have provided financial assistance and loans to the Respondent for railway tenders, which the Respondent subsequently defaulted on. The Respondent contended that the transaction was a joint venture with profit and loss sharing, not a financial debt, and that the loan agreements were merely for book-keeping purposes.
M/s Stemztech Industries Private Limited (Applicant/Financial Creditor) filed a company petition under Section 7 of the IBC, 2016, against M/s Oscorp Industries Private Limited (Respondent/Corporate Debtor).
The Applicant is a company incorporated under the Companies Act, 2013, with its registered office in Gurgaon, Haryana.
Ms. Priyanka Hait, duly authorized, preferred the petition on behalf of the applicant, with an Authorisation Affidavit dated 11.03.2025.
The Respondent was incorporated on 17.03.2023, with its registered office in Howrah, West Bengal.
The Applicant and Respondent entered into a Memorandum of Understanding (MoU) dated 20.12.2022, whereby the applicant agreed to provide financial assistance to the respondent company.
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Memorandum of Understanding (MoU) entered into…
An Addendum to the MoU was entered into,…
M/s Stemztech Industries Private Limited (Financial Creditor/Applicant) filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Oscorp Industries Private Limited (Corporate Debtor/Respondent). The Applicant claimed to have provided financial assistance and loans to the Respondent for railway tenders, which the Respondent subsequently defaulted on. The Respondent contended that the transaction was a joint venture with profit and loss sharing, not a financial debt, and that the loan agreements were merely for book-keeping purposes.
M/s Stemztech Industries Private Limited (Applicant/Financial Creditor) filed a company petition under Section 7 of the IBC, 2016, against M/s Oscorp Industries Private Limited (Respondent/Corporate Debtor).
The Applicant is a company incorporated under the Companies Act, 2013, with its registered office in Gurgaon, Haryana.
Ms. Priyanka Hait, duly authorized, preferred the petition on behalf of the applicant, with an Authorisation Affidavit dated 11.03.2025.
The Respondent was incorporated on 17.03.2023, with its registered office in Howrah, West Bengal.
The Applicant and Respondent entered into a Memorandum of Understanding (MoU) dated 20.12.2022, whereby the applicant agreed to provide financial assistance to the respondent company.
…Memorandum of Understanding (MoU) entered into…
An Addendum to the MoU was entered into,…