Ranisati Constructions Company Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Omnibay Private Limited (Corporate Debtor). The Financial Creditor claimed to have disbursed Rs. 2,65,00,000/- to the Corporate Debtor through various RTGS transfers and alleged a default in repayment as per a loan agreement. The Corporate Debtor disputed the validity and execution of the loan agreement, claiming it was fabricated, and denied that the alleged debt constituted a 'financial debt' or that a 'default' had occurred.
Ranisati Constructions Company Private Limited (Financial Creditor) is primarily engaged in money lending and earns revenue through interest.
Omnibay Private Limited (Corporate Debtor) operates in the online gaming industry, developing and managing interactive gaming platforms.
The Corporate Debtor approached the Financial Creditor for its financial requirements.
The Financial Creditor granted credit facilities totaling Rs. 2,65,00,000/- to the Corporate Debtor in several tranches between 04.09.2024 and 05.12.2024.
Disbursements were made via RTGS bank transfers to the Corporate Debtor's designated bank accounts.
The Financial Creditor claims a loan agreement dated 7th December 2024 was executed, which provided for default upon non-payment by 31st March 2025.
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Financial Creditor…
Financial Creditor…
Ranisati Constructions Company Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Omnibay Private Limited (Corporate Debtor). The Financial Creditor claimed to have disbursed Rs. 2,65,00,000/- to the Corporate Debtor through various RTGS transfers and alleged a default in repayment as per a loan agreement. The Corporate Debtor disputed the validity and execution of the loan agreement, claiming it was fabricated, and denied that the alleged debt constituted a 'financial debt' or that a 'default' had occurred.
Ranisati Constructions Company Private Limited (Financial Creditor) is primarily engaged in money lending and earns revenue through interest.
Omnibay Private Limited (Corporate Debtor) operates in the online gaming industry, developing and managing interactive gaming platforms.
The Corporate Debtor approached the Financial Creditor for its financial requirements.
The Financial Creditor granted credit facilities totaling Rs. 2,65,00,000/- to the Corporate Debtor in several tranches between 04.09.2024 and 05.12.2024.
Disbursements were made via RTGS bank transfers to the Corporate Debtor's designated bank accounts.
The Financial Creditor claims a loan agreement dated 7th December 2024 was executed, which provided for default upon non-payment by 31st March 2025.
…Financial Creditor…
Financial Creditor…