Goyal Achal Sampatti Vikas And Niyojan Nigam Limited, the Financial Creditor/Petitioner, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Quanteco World Limited, the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP).
The application was filed by Goyal Achal Sampatti Vikas and Niyojan Nigam Limited against Quanteco World Limited under Section 7 of the IBC.
The amount claimed to be in default is INR 22,37,50,904/-, and the date of default is stated as 04th August, 2024.
The Applicant (Financial Creditor) advanced a sum of INR 21,49,00,000/- to the Corporate Debtor under a Loan Agreement dated 30.07.2023.
The Corporate Debtor failed to make complete payments towards the monthly installments as per the agreed repayment schedule.
The Applicant issued a Loan Recall Notice dated 18.12.2024, invoking Articles 2.8 and 7.5 of the Loan Agreement, demanding repayment of INR 22,37,50,904/-.
The Corporate Debtor made some repayments, but a significant default remained.
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The Applicant advanced a sum of INR…
The Applicant…
Goyal Achal Sampatti Vikas And Niyojan Nigam Limited, the Financial Creditor/Petitioner, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Quanteco World Limited, the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP).
The application was filed by Goyal Achal Sampatti Vikas and Niyojan Nigam Limited against Quanteco World Limited under Section 7 of the IBC.
The amount claimed to be in default is INR 22,37,50,904/-, and the date of default is stated as 04th August, 2024.
The Applicant (Financial Creditor) advanced a sum of INR 21,49,00,000/- to the Corporate Debtor under a Loan Agreement dated 30.07.2023.
The Corporate Debtor failed to make complete payments towards the monthly installments as per the agreed repayment schedule.
The Applicant issued a Loan Recall Notice dated 18.12.2024, invoking Articles 2.8 and 7.5 of the Loan Agreement, demanding repayment of INR 22,37,50,904/-.
The Corporate Debtor made some repayments, but a significant default remained.
…The Applicant advanced a sum of INR…
The Applicant…