Legal3 April 2026 at 09:55 am
Interworld Digital Ltd. Defaults on Final Loan Installment from Kotak Mahindra Bank
AI Summary
Interworld Digital Ltd. has failed to repay the last installment of a Loan against Vehicle obtained from Kotak Mahindra Prime Limited. The vehicle, which was purchased with the loan, is currently in the possession of the past Managing Director, Mr. Man Mohan Gupta, who has reportedly shifted the company's business and intellectual property to other entities formed by him. The company has requested Mr. Gupta to return the vehicle or clear the outstanding debts, but he has not cooperated thus far.
Key Highlights
- Interworld Digital Ltd. has defaulted on the final installment of a Loan against Vehicle from Kotak Mahindra Prime Limited.
- The vehicle purchased with the loan is in the possession of the past Managing Director, Mr. Man Mohan Gupta.
- Mr. Gupta has reportedly shifted the company's business and intellectual property to other entities formed by him.
- The company has requested Mr. Gupta to return the vehicle or clear the outstanding debts, but he has not cooperated.
- The default continues beyond 30 days as of March 31, 2026.