Assets Care & Reconstruction Enterprise Limited (Financial Creditor/Applicant) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Wizard E-Marketing Private Limited (Corporate Debtor/Respondent) for initiating Corporate Insolvency Resolution Process (CIRP). The application was based on a default in repayment of a financial debt amounting to Rs. 32,35,19,938.35/-, which originated from four loan agreements with Indiabulls Commercial Credit Limited and was subsequently assigned to the Financial Creditor.
Assets Care & Reconstruction Enterprise Limited (FC) filed a Section 7 IBC application against Wizard E-Marketing Private Limited (CD).
The application seeks initiation of CIRP due to a default in repayment of a financial debt amounting to Rs. 32,35,19,938.35/-.
The debt comprises principal of Rs. 21,37,19,947/- and interest of Rs. 10,97,99,991.35/- calculated up to 02.01.2025.
Indiabulls Commercial Credit Limited (original lender) and the CD entered into four loan agreements dated 30.12.2016, 31.05.2018, 08.02.2021, and 29.09.2021.
An aggregate sum of Rs. 23,09,27,990/- was disbursed to the CD.
Loan Facility Nos. 2 and 3 were initially classified as NPA on 18.08.2021 and 09.08.2021 respectively.
…Sign in to view the parties.
Indiabulls Commercial Credit Limited and the…
Indiabulls Commercial Credit Limited and the…
Assets Care & Reconstruction Enterprise Limited (Financial Creditor/Applicant) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Wizard E-Marketing Private Limited (Corporate Debtor/Respondent) for initiating Corporate Insolvency Resolution Process (CIRP). The application was based on a default in repayment of a financial debt amounting to Rs. 32,35,19,938.35/-, which originated from four loan agreements with Indiabulls Commercial Credit Limited and was subsequently assigned to the Financial Creditor.
Assets Care & Reconstruction Enterprise Limited (FC) filed a Section 7 IBC application against Wizard E-Marketing Private Limited (CD).
The application seeks initiation of CIRP due to a default in repayment of a financial debt amounting to Rs. 32,35,19,938.35/-.
The debt comprises principal of Rs. 21,37,19,947/- and interest of Rs. 10,97,99,991.35/- calculated up to 02.01.2025.
Indiabulls Commercial Credit Limited (original lender) and the CD entered into four loan agreements dated 30.12.2016, 31.05.2018, 08.02.2021, and 29.09.2021.
An aggregate sum of Rs. 23,09,27,990/- was disbursed to the CD.
Loan Facility Nos. 2 and 3 were initially classified as NPA on 18.08.2021 and 09.08.2021 respectively.
…Indiabulls Commercial Credit Limited and the…
Indiabulls Commercial Credit Limited and the…