DMI Finance Private Limited, a Non-Banking Financial Company, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Abloom Infotech Pvt. Ltd, referred to as the corporate debtor. The respondent, M/S Abloom Infotech Pvt. Ltd, against whom initiation of CIRP has been prayed for, was incorporated on 03.05.1994. The Financial Creditor claimed that a sum of Rs.29,53,87,663/67 along with interest is due from the respondent company. The Corporate Debtor is an associate company of a group of companies known as "Ninex Group". The Respondent raised objections against the application, contending that the Financial Creditor had already approached other co-borrowers, namely
…DMI Finance Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Abloom Infotech Pvt. Ltd (Corporate Debtor). The Corporate Debtor was incorporated on 03.05.1994. The Financial Creditor and Corporate Debtor executed a Loan Agreement on 27.04.2016 for a facility of Rs. 16,00,00,000/-. Three other entities, Ninex Developers Limited, Redtopaz Real Estate Private Limited and RMG Developers Private Limited were co-borrowers under the said Loan Agreement. A loan facility of INR 13,35,00,000/- was disbursed in four tranches by the Financial Creditor to the Corporate Debtor against letter of drawdown issued by the Corporate Debtor on
…Sign in to view the parties.
M/S Abloom Infotech…
Abloom Infotech Private Limited, the Corporate…
DMI Finance Private Limited, a Non-Banking Financial Company, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Abloom Infotech Pvt. Ltd, referred to as the corporate debtor. The respondent, M/S Abloom Infotech Pvt. Ltd, against whom initiation of CIRP has been prayed for, was incorporated on 03.05.1994. The Financial Creditor claimed that a sum of Rs.29,53,87,663/67 along with interest is due from the respondent company. The Corporate Debtor is an associate company of a group of companies known as "Ninex Group". The Respondent raised objections against the application, contending that the Financial Creditor had already approached other co-borrowers, namely
…DMI Finance Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Abloom Infotech Pvt. Ltd (Corporate Debtor). The Corporate Debtor was incorporated on 03.05.1994. The Financial Creditor and Corporate Debtor executed a Loan Agreement on 27.04.2016 for a facility of Rs. 16,00,00,000/-. Three other entities, Ninex Developers Limited, Redtopaz Real Estate Private Limited and RMG Developers Private Limited were co-borrowers under the said Loan Agreement. A loan facility of INR 13,35,00,000/- was disbursed in four tranches by the Financial Creditor to the Corporate Debtor against letter of drawdown issued by the Corporate Debtor on
…M/S Abloom Infotech…
Abloom Infotech Private Limited, the Corporate…