Rajeshwari Iron & Steel Co. Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Radha Krishna Vinimay Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor had disbursed an aggregate sum of ₹83,00,000/- to the Corporate Debtor between May 2016 and March 2017, formalized by a Loan Agreement dated 31.03.2017, with an agreed repayment date of 31.03.2023 and 8% annual interest. The Corporate Debtor failed to repay the outstanding dues upon maturity. A demand notice was issued on 11.05.2023, and the Corporate Debtor acknowledged its liability on 15.06.2023. The total outstanding amount claimed was ₹1,54,09,111/-, including
…Rajeshwari Iron & Steel Co. Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC against Shree Radha Krishna Vinimay Private Limited (Corporate Debtor).
The Financial Creditor disbursed ₹83,00,000/- to the Corporate Debtor between May 2016 and March 2017.
A Loan Agreement dated 31.03.2017 formalized the transaction, stipulating 8% interest per annum and repayment by 31.03.2023.
The Corporate Debtor failed to repay the outstanding dues by the agreed maturity date of 31.03.2023.
The Financial Creditor issued a demand notice on 11.05.2023 for the outstanding amount.
The Corporate Debtor, in a letter dated 15.06.2023, acknowledged its liability for the outstanding dues.
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Financial Creditor…
Financial Creditor completed disbursing an…
Rajeshwari Iron & Steel Co. Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Radha Krishna Vinimay Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor had disbursed an aggregate sum of ₹83,00,000/- to the Corporate Debtor between May 2016 and March 2017, formalized by a Loan Agreement dated 31.03.2017, with an agreed repayment date of 31.03.2023 and 8% annual interest. The Corporate Debtor failed to repay the outstanding dues upon maturity. A demand notice was issued on 11.05.2023, and the Corporate Debtor acknowledged its liability on 15.06.2023. The total outstanding amount claimed was ₹1,54,09,111/-, including
…Rajeshwari Iron & Steel Co. Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC against Shree Radha Krishna Vinimay Private Limited (Corporate Debtor).
The Financial Creditor disbursed ₹83,00,000/- to the Corporate Debtor between May 2016 and March 2017.
A Loan Agreement dated 31.03.2017 formalized the transaction, stipulating 8% interest per annum and repayment by 31.03.2023.
The Corporate Debtor failed to repay the outstanding dues by the agreed maturity date of 31.03.2023.
The Financial Creditor issued a demand notice on 11.05.2023 for the outstanding amount.
The Corporate Debtor, in a letter dated 15.06.2023, acknowledged its liability for the outstanding dues.
…Financial Creditor…
Financial Creditor completed disbursing an…