K Sera Sera Box Office Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Shree Mahaganga Sugar Mills Limited, the Corporate Debtor (CD). The application was filed due to a default in repayment of a loan amount.
A Tripartite Loan Agreement dated 09.10.2020 was entered into between K Sera Sera Box Office Private Limited (Applicant/lender), SPJ Exports (borrower), and Shree Mahaganga Sugar Mills Limited (CD/guarantor) for Rs.1,09,00,000/-.
The amount claimed to be in default is Rs.1,61,35,928.77/- as on 05.11.2024, including a principal amount of Rs.1,09,00,000/- and interest amounting to Rs.52,35,928.77/-. The date of default mentioned is 22.10.2024.
The Corporate Debtor (CD) admitted to repaying the loan amount but requested to restructure the repayment schedule with an extension of 6 months.
The Applicant issued a Demand Notice dated 15.10.2024 to the CD recalling the entire loan amount together with interest, overdue interest, and other charges.
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A Tripartite Loan Agreement was entered into…
The date of d…
K Sera Sera Box Office Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Shree Mahaganga Sugar Mills Limited, the Corporate Debtor (CD). The application was filed due to a default in repayment of a loan amount.
A Tripartite Loan Agreement dated 09.10.2020 was entered into between K Sera Sera Box Office Private Limited (Applicant/lender), SPJ Exports (borrower), and Shree Mahaganga Sugar Mills Limited (CD/guarantor) for Rs.1,09,00,000/-.
The amount claimed to be in default is Rs.1,61,35,928.77/- as on 05.11.2024, including a principal amount of Rs.1,09,00,000/- and interest amounting to Rs.52,35,928.77/-. The date of default mentioned is 22.10.2024.
The Corporate Debtor (CD) admitted to repaying the loan amount but requested to restructure the repayment schedule with an extension of 6 months.
The Applicant issued a Demand Notice dated 15.10.2024 to the CD recalling the entire loan amount together with interest, overdue interest, and other charges.
…A Tripartite Loan Agreement was entered into…
The date of d…