The case involves an application filed by Samata Nagari Sahkari Patsanstha Maryadit, the Financial Creditor/Applicant, under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Chaitanya Neer Jal Private Limited, the Corporate Debtor.
Samata Nagari Sahkari Patsanstha Maryadit filed an application under Section 7 of the I&B Code to initiate CIRP against Chaitanya Neer Jal Private Limited.
The claimed default amount is Rs. 1,87,60,430/-, with the date of default being 12.08.2018.
The Corporate Debtor had approached the Financial Creditor for credit facilities, including a working capital loan of Rs. 1,00,00,000/-.
The Corporate Debtor executed a Deed of Mortgage dated 30.09.2016 and a rectified mortgage deed dated 13/01/2017 in favor of the Financial Creditor.
The Financial Creditor sanctioned credit facilities vide its Resolution dated 19/01/2017, and the amount was disbursed on 25/01/2017.
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The Corporate Debtor approached the Financial…
The Financial Creditor…
The case involves an application filed by Samata Nagari Sahkari Patsanstha Maryadit, the Financial Creditor/Applicant, under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Chaitanya Neer Jal Private Limited, the Corporate Debtor.
Samata Nagari Sahkari Patsanstha Maryadit filed an application under Section 7 of the I&B Code to initiate CIRP against Chaitanya Neer Jal Private Limited.
The claimed default amount is Rs. 1,87,60,430/-, with the date of default being 12.08.2018.
The Corporate Debtor had approached the Financial Creditor for credit facilities, including a working capital loan of Rs. 1,00,00,000/-.
The Corporate Debtor executed a Deed of Mortgage dated 30.09.2016 and a rectified mortgage deed dated 13/01/2017 in favor of the Financial Creditor.
The Financial Creditor sanctioned credit facilities vide its Resolution dated 19/01/2017, and the amount was disbursed on 25/01/2017.
…The Corporate Debtor approached the Financial…
The Financial Creditor…