Capital Trade Links Ltd., the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Vitasta Software India Pvt. Ltd., the Corporate Debtor.
Capital Trade Links Ltd. is a registered Non-Banking Financial Company (NBFC).
Vitasta Software India Pvt. Ltd. is the Corporate Debtor.
The Corporate Debtor approached the Financial Creditor for a business loan of ₹20,00,00,000.
A loan agreement was executed between the parties on 28.06.2024.
The Financial Creditor extended a short-term loan facility of ₹13,50,00,000 in multiple tranches.
The Corporate Debtor was liable to pay interest at the rate of 1.5% per month.
The Corporate Debtor committed its first default on 01.10.2024.
The Corporate Debtor committed a second default on 15.02.2025.
The Petitioner claimed Rs.13,50,00,000/- as the amount of default.
The total amount of debt claimed by the Financial Creditor is Rs. 157289321.00/-.
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A loan agreement was executed between Capital…
The Corporate…
Capital Trade Links Ltd., the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Vitasta Software India Pvt. Ltd., the Corporate Debtor.
Capital Trade Links Ltd. is a registered Non-Banking Financial Company (NBFC).
Vitasta Software India Pvt. Ltd. is the Corporate Debtor.
The Corporate Debtor approached the Financial Creditor for a business loan of ₹20,00,00,000.
A loan agreement was executed between the parties on 28.06.2024.
The Financial Creditor extended a short-term loan facility of ₹13,50,00,000 in multiple tranches.
The Corporate Debtor was liable to pay interest at the rate of 1.5% per month.
The Corporate Debtor committed its first default on 01.10.2024.
The Corporate Debtor committed a second default on 15.02.2025.
The Petitioner claimed Rs.13,50,00,000/- as the amount of default.
The total amount of debt claimed by the Financial Creditor is Rs. 157289321.00/-.
…A loan agreement was executed between Capital…
The Corporate…