The case involves an application filed by R. K. Purushothaman, the Financial Creditor, against DE Grande Sports Private Limited, the Corporate Debtor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking the commencement of the Corporate Insolvency Resolution Process (CIRP).
R. K. Purushothaman, the Applicant, filed an application against DE Grande Sports Private Limited under Section 7 of the IBC.
The amount claimed to be in default is Rs. 3,62,08,997/-, including interest, with a principal amount of Rs. 2,95,00,000/-.
The Corporate Debtor is the owner and holds the rights to use, operate, and manage 'Hyderabad FC'.
A sum of Rs. 2,95,00,000/- was disbursed by the Financial Creditor to the Corporate Debtor as per a Loan Agreement dated 09.09.2020.
The Loan Agreement stipulated an interest rate of 8% per annum.
The first date of default stated by the Applicant is 04.10.2024.
A Demand Promissory Note dated 31.03.2022 was executed by the Corporate Debtor.
…Sign in to view the parties.
Application filed by R. K. Purushothaman…
The first date of…
The case involves an application filed by R. K. Purushothaman, the Financial Creditor, against DE Grande Sports Private Limited, the Corporate Debtor, under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking the commencement of the Corporate Insolvency Resolution Process (CIRP).
R. K. Purushothaman, the Applicant, filed an application against DE Grande Sports Private Limited under Section 7 of the IBC.
The amount claimed to be in default is Rs. 3,62,08,997/-, including interest, with a principal amount of Rs. 2,95,00,000/-.
The Corporate Debtor is the owner and holds the rights to use, operate, and manage 'Hyderabad FC'.
A sum of Rs. 2,95,00,000/- was disbursed by the Financial Creditor to the Corporate Debtor as per a Loan Agreement dated 09.09.2020.
The Loan Agreement stipulated an interest rate of 8% per annum.
The first date of default stated by the Applicant is 04.10.2024.
A Demand Promissory Note dated 31.03.2022 was executed by the Corporate Debtor.
…Application filed by R. K. Purushothaman…
The first date of…