The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted a Section 7 insolvency application filed by DSM Projects Private Limited against A.N. Enterprises Infrastructure Services Private Limited over a default exceeding ₹98 crore.
The case arose from a loan agreement dated September 6, 2017, under which DSM Projects disbursed ₹63 crore to A.N. Enterprises as an Inter-Corporate Deposit for business and working capital purposes. The repayment tenure was fixed at 4 years and 6 months, with the last repayment due by March 13, 2022.
Despite partial repayments totalling ₹4.5 crore, the Corporate Debtor failed to clear the outstanding amount. As of December 2024, the total claimed default stood at ₹60.19 crore in…