Pen India Private Limited (Financial Creditor/Applicant) filed an application under Section 7 of the IBC, 2016, to initiate CIRP against Reliance Entertainment Studios Private Limited (Corporate Debtor) for a default of Rs.11,94,04,016/-. The default arose from a Security Deposit Agreement (SDA) dated 14.11.2022, where the Applicant provided Rs.20,00,00,000/- as financial assistance with 21% p.a. compounded monthly interest. A part payment of Rs.15,00,00,000/- was made by Friday Filmworks Pvt. Ltd. on behalf of the CD, leaving a balance. The CD acknowledged the debt multiple times but failed to repay.
Pen India Private Limited (Applicant/Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Reliance Entertainment Studios Private Limited (Corporate Debtor).
The application, C.P. (IB) No.1063/MB/2025, was filed on 08.08.2025.
The Applicant and the Corporate Debtor executed a Security Deposit Agreement (SDA) dated 14.11.2022.
Under the SDA, the Applicant disbursed Rs.20,00,00,000/- to the Corporate Debtor on 29.11.2022.
The SDA stipulated repayment of the amount with interest at 21% p.a. compounded monthly.
An Additional Agreement was executed on 06.10.2023 between the Applicant, CD, Plan C Studios LLP, and Friday Filmworks Pvt. Ltd. (FFW).
…Sign in to view the parties.
The Applicant (Pen India Private Limited)…
The Applicant disbursed…
Pen India Private Limited (Financial Creditor/Applicant) filed an application under Section 7 of the IBC, 2016, to initiate CIRP against Reliance Entertainment Studios Private Limited (Corporate Debtor) for a default of Rs.11,94,04,016/-. The default arose from a Security Deposit Agreement (SDA) dated 14.11.2022, where the Applicant provided Rs.20,00,00,000/- as financial assistance with 21% p.a. compounded monthly interest. A part payment of Rs.15,00,00,000/- was made by Friday Filmworks Pvt. Ltd. on behalf of the CD, leaving a balance. The CD acknowledged the debt multiple times but failed to repay.
Pen India Private Limited (Applicant/Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Reliance Entertainment Studios Private Limited (Corporate Debtor).
The application, C.P. (IB) No.1063/MB/2025, was filed on 08.08.2025.
The Applicant and the Corporate Debtor executed a Security Deposit Agreement (SDA) dated 14.11.2022.
Under the SDA, the Applicant disbursed Rs.20,00,00,000/- to the Corporate Debtor on 29.11.2022.
The SDA stipulated repayment of the amount with interest at 21% p.a. compounded monthly.
An Additional Agreement was executed on 06.10.2023 between the Applicant, CD, Plan C Studios LLP, and Friday Filmworks Pvt. Ltd. (FFW).
…The Applicant (Pen India Private Limited)…
The Applicant disbursed…