Unaprime Investment Advisors Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Tork Motors Private Limited, the Corporate Debtor, due to a default of Rs. 1,29,34,797/-.
The application was filed on 29.01.2025 by Unaprime Investment Advisors Private Limited.
The amount claimed to be in default is Rs.1,29,34,797/-.
The date of default is stated to be 05.02.2024.
The Applicant was appointed as professional advisor to the CD for facilitating a capital infusion of USD 50 million.
The CD entered into agreements with Bennett Coleman and Company Limited (BCCL) which triggered the liability to pay the Success Fee of Rs.1,15,05,000/-.
The CD does not dispute the operational debt of Rs.1,15,05,000/-.
The CD cited severe financial constraints and operational disruptions as reasons for non-payment.
The Applicant issued a Demand Notice under Section 8 of the IBC on 25.08.2024, followed by a revised notice on 04.09.2024.
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Unaprime Investment…
The date of default in…
Unaprime Investment Advisors Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Tork Motors Private Limited, the Corporate Debtor, due to a default of Rs. 1,29,34,797/-.
The application was filed on 29.01.2025 by Unaprime Investment Advisors Private Limited.
The amount claimed to be in default is Rs.1,29,34,797/-.
The date of default is stated to be 05.02.2024.
The Applicant was appointed as professional advisor to the CD for facilitating a capital infusion of USD 50 million.
The CD entered into agreements with Bennett Coleman and Company Limited (BCCL) which triggered the liability to pay the Success Fee of Rs.1,15,05,000/-.
The CD does not dispute the operational debt of Rs.1,15,05,000/-.
The CD cited severe financial constraints and operational disruptions as reasons for non-payment.
The Applicant issued a Demand Notice under Section 8 of the IBC on 25.08.2024, followed by a revised notice on 04.09.2024.
…Unaprime Investment…
The date of default in…