How to (almost) get away with fraud?
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Ultra Rex and the Bankruptcy Court
Ultra Rex defaulted on the loan. This essentially meant Shirdpur couldn't return the money to the banks either. Now, Ultra Rex had other creditors that had lent it money. One of these creditors was a company called EK Mart. It wanted to recover its 50 crore rupees from Ultra Rex. At this point, Shirdpur should have put its hands up and said 'I owe you some money too' But they chose not to do so which means bankruptcy court will liquidate Ultra Rex's assets in order to get their money back. We told you things for getting weird but now we tell you what really happened here.
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