The case pertains to an application filed by Fort Café Food Services Pvt. Ltd., the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Radhagobind Commercial Ltd., the Corporate Debtor, due to a default of INR 1,02,60,000/-.
Fort Café Food Services Pvt. Ltd. filed an application under Section 7 of the IBC to initiate CIRP against Radhagobind Commercial Ltd.
The total default amount claimed by the Financial Creditor is INR 1,02,60,000/-.
A loan agreement was entered into between the parties on 26.09.2023.
The Corporate Debtor is a BSE-listed company primarily involved in trading fabrics.
The Corporate Debtor admitted to the disbursal of money against consideration but cited adverse financial conditions for the default.
The loan tenure of 11 months expired on 27.08.2024.
No payment was made after 25.03.2024 by the Corporate Debtor.
The Financial Creditor discovered adverse information in the Corporate Debtor's annual report for the fiscal year 2024.
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A loan agreement was…
No payment was made…
The case pertains to an application filed by Fort Café Food Services Pvt. Ltd., the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Radhagobind Commercial Ltd., the Corporate Debtor, due to a default of INR 1,02,60,000/-.
Fort Café Food Services Pvt. Ltd. filed an application under Section 7 of the IBC to initiate CIRP against Radhagobind Commercial Ltd.
The total default amount claimed by the Financial Creditor is INR 1,02,60,000/-.
A loan agreement was entered into between the parties on 26.09.2023.
The Corporate Debtor is a BSE-listed company primarily involved in trading fabrics.
The Corporate Debtor admitted to the disbursal of money against consideration but cited adverse financial conditions for the default.
The loan tenure of 11 months expired on 27.08.2024.
No payment was made after 25.03.2024 by the Corporate Debtor.
The Financial Creditor discovered adverse information in the Corporate Debtor's annual report for the fiscal year 2024.
A loan agreement was…
No payment was made…