M/s Kaliber Associates Pvt. Ltd. (undergoing liquidation) filed an application under Section 7 of the IBC against M/s Sanya Hospitality Pvt. Ltd.

The Petitioner claims that the Respondent has committed a default in the repayment of financial debt amounting to Rs. 2,60,00,000 along with 12% interest.

A sum of Rs. 2,60,00,000 was disbursed to the CD on 31.05.2014 in two tranches of Rs. 1,92,50,000 and Rs. 67,50,000.

The audited financial statements of the CD for the financial years 2014–15 to 2017–18 disclose the said sum as ‘Unsecured Loans' under 'Long-Term Borrowings'.

Despite repeated demand letters dated 31.01.2019, 10.05.2019, and 18.07.2019, followed by a legal notice dated 20.07.2020, no payment was made.

M/s Kaliber Associates Pvt. Ltd. (undergoing liquidation) filed an application under Section 7 of the IBC against M/s Sanya Hospitality Pvt. Ltd.

The Petitioner claims that the Respondent has committed a default in the repayment of financial debt amounting to Rs. 2,60,00,000 along with 12% interest.

A sum of Rs. 2,60,00,000 was disbursed to the CD on 31.05.2014 in two tranches of Rs. 1,92,50,000 and Rs. 67,50,000.

The audited financial statements of the CD for the financial years 2014–15 to 2017–18 disclose the said sum as ‘Unsecured Loans' under 'Long-Term Borrowings'.

Despite repeated demand letters dated 31.01.2019, 10.05.2019, and 18.07.2019, followed by a legal notice dated 20.07.2020, no payment was made.