The case involves an application filed by VSJ Investment Private Limited, the Financial Creditor/Applicant, under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Magic Express Technology Private Limited, the Corporate Debtor.
VSJ Investment Private Limited filed an application under Section 7 of the I&B Code to initiate CIRP against Magic Express Technology Private Limited.
The Financial Creditor claimed a total outstanding amount of Rs.311,09,40,163/-.
The Date of Default is stated to be 31.03.2021.
The Corporate Debtor did not file a reply to the application.
Piramal Capital & Housing Finance Limited had been reverse merged into Diwan Housing Finance Corporation Limited with effect from 30.09.2021.
The loan was assigned by Piramal Capital & Housing Finance Limited to VSJ Investment Private Limited by way of an Assignment Agreement dated 14.07.2022.
The Corporate Debtor stood as a Guarantor to the Loan Facility provided to the Borrower.
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The Date of De…
The Petition i…
The case involves an application filed by VSJ Investment Private Limited, the Financial Creditor/Applicant, under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Magic Express Technology Private Limited, the Corporate Debtor.
VSJ Investment Private Limited filed an application under Section 7 of the I&B Code to initiate CIRP against Magic Express Technology Private Limited.
The Financial Creditor claimed a total outstanding amount of Rs.311,09,40,163/-.
The Date of Default is stated to be 31.03.2021.
The Corporate Debtor did not file a reply to the application.
Piramal Capital & Housing Finance Limited had been reverse merged into Diwan Housing Finance Corporation Limited with effect from 30.09.2021.
The loan was assigned by Piramal Capital & Housing Finance Limited to VSJ Investment Private Limited by way of an Assignment Agreement dated 14.07.2022.
The Corporate Debtor stood as a Guarantor to the Loan Facility provided to the Borrower.
…The Date of De…
The Petition i…