Reliance Net Limited, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Zapak Mobile Games Private Limited, the Corporate Debtor (CD). The application was filed due to a default in repayment of a loan.
Reliance Net Limited filed an application under Section 7 of the IBC to initiate CIRP against Zapak Mobile Games Private Limited.
The amount claimed to be in default is Rs. 1,32,36,378 as on 30.11.2024, including principal and interest.
The date of default mentioned is 31.10.2022.
In October 2007, Zapak Mobile Games Private Limited (then known as Jump Games Private Limited) approached Reliance Land Private Limited (RLPL) for financial assistance.
RLPL agreed to advance a loan of Rs. 50,00,000 to the CD, and a Term Sheet was executed on 31.10.2007.
Between March 2008 and June 2009, the CD repaid Rs. 3,12,937 towards the interest component of the loan.
…Sign in to view the parties.
A Term Sheet was executed between RLPL and…
The CD rep…
Reliance Net Limited, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Zapak Mobile Games Private Limited, the Corporate Debtor (CD). The application was filed due to a default in repayment of a loan.
Reliance Net Limited filed an application under Section 7 of the IBC to initiate CIRP against Zapak Mobile Games Private Limited.
The amount claimed to be in default is Rs. 1,32,36,378 as on 30.11.2024, including principal and interest.
The date of default mentioned is 31.10.2022.
In October 2007, Zapak Mobile Games Private Limited (then known as Jump Games Private Limited) approached Reliance Land Private Limited (RLPL) for financial assistance.
RLPL agreed to advance a loan of Rs. 50,00,000 to the CD, and a Term Sheet was executed on 31.10.2007.
Between March 2008 and June 2009, the CD repaid Rs. 3,12,937 towards the interest component of the loan.
…A Term Sheet was executed between RLPL and…
The CD rep…