The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Mr. Akshay Kumar Rout, seeking initiation of CIRP against Indo Laminates Pvt. Ltd. for a default amount of Rs. 1,13,45,000/- as on 03.05.2025.
Mr. Akshay Kumar Rout filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Indo Laminates Pvt. Ltd.
The alleged default amount was Rs. 1,13,45,000/- as on 03.05.2025.
The applicant granted financial assistance to the corporate debtor amounting to Rs. 1,05,00,000/- at an interest rate of 18% per annum.
A loan agreement was executed on 01.03.2025.
The corporate debtor defaulted in repayment of the financial assistance.
The applicant sent a loan demand cum legal recall notice dated 03.05.2025.
The respondent acknowledged the liability but cited a fire incident as the reason for not being able to repay the amount.
The loan agreement was executed after the disbursal of the loan amount.
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The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Mr. Akshay Kumar Rout, seeking initiation of CIRP against Indo Laminates Pvt. Ltd. for a default amount of Rs. 1,13,45,000/- as on 03.05.2025.
Mr. Akshay Kumar Rout filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Indo Laminates Pvt. Ltd.
The alleged default amount was Rs. 1,13,45,000/- as on 03.05.2025.
The applicant granted financial assistance to the corporate debtor amounting to Rs. 1,05,00,000/- at an interest rate of 18% per annum.
A loan agreement was executed on 01.03.2025.
The corporate debtor defaulted in repayment of the financial assistance.
The applicant sent a loan demand cum legal recall notice dated 03.05.2025.
The respondent acknowledged the liability but cited a fire incident as the reason for not being able to repay the amount.
The loan agreement was executed after the disbursal of the loan amount.
…A loan agreement was executed between the…
The date on which the…