Motocruizer Rental LLP, a Limited Liability Partnership, filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP). The application was prompted by severe financial stress, rendering the LLP unable to repay its debts to creditors. The total debt in default was stated as ₹4,95,00,512/-, with the date of default being 14.05.2023. The financial distress was exacerbated by the COVID-19 pandemic, which impacted the mobility sector, leading to liquidity constraints.
Motocruizer Rental LLP (Corporate Applicant) filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP).
The Corporate Applicant is a Limited Liability Partnership (LLP) incorporated on 17.01.2017, having LLPIN: AAI-2855, and its registered address is in Mumbai, establishing the NCLT Mumbai Bench's jurisdiction.
The total amount in default and the total debt raised is ₹4,95,00,512/- (Rupees Four Crores Ninety-Five Lakhs Five Hundred and Twelve Only).
The date of default is stated as 14.05.2023, being the next day after the last payment and the date on/after which no further payment was made to one of the major financial creditors.
…Sign in to view the parties.
Motocruizer Re…
A Limited Lia…
Motocruizer Rental LLP, a Limited Liability Partnership, filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP). The application was prompted by severe financial stress, rendering the LLP unable to repay its debts to creditors. The total debt in default was stated as ₹4,95,00,512/-, with the date of default being 14.05.2023. The financial distress was exacerbated by the COVID-19 pandemic, which impacted the mobility sector, leading to liquidity constraints.
Motocruizer Rental LLP (Corporate Applicant) filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP).
The Corporate Applicant is a Limited Liability Partnership (LLP) incorporated on 17.01.2017, having LLPIN: AAI-2855, and its registered address is in Mumbai, establishing the NCLT Mumbai Bench's jurisdiction.
The total amount in default and the total debt raised is ₹4,95,00,512/- (Rupees Four Crores Ninety-Five Lakhs Five Hundred and Twelve Only).
The date of default is stated as 14.05.2023, being the next day after the last payment and the date on/after which no further payment was made to one of the major financial creditors.
…Motocruizer Re…
A Limited Lia…