The case pertains to an application filed by Omkara Assets Reconstruction Pvt. Ltd (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against 7 Star Empire Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP).
Omkara Assets Reconstruction Pvt. Ltd filed an application under Section 7 of the IBC against 7 Star Empire Limited.
The Corporate Debtor defaulted on a loan facility of Rs.89,50,00,000/- extended by DHFL under a Loan Agreement dated 29.09.2017.
A loan recall notice was issued by the Financial Creditor on 08.11.2019 after the Corporate Debtor defaulted.
The Corporate Debtor paid Rs. 32,12,000/- towards the outstanding principal on 22.01.2020.
DHFL was taken over by Piramal Capital & Housing Finance Limited (PCHFL) through a resolution plan.
PCHFL filed CP(IB) No. 267 of 2022 for initiation of CIRP, which was later allowed to be withdrawn.
A settlement agreement was reached for Rs.45,45,00,000/-, but the Corporate Debtor only paid Rs. 19,06,53,270/-.
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Loan Agreement dated 29.09.2017 between the…
Letter No. DHFL/2017-18/…
The case pertains to an application filed by Omkara Assets Reconstruction Pvt. Ltd (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against 7 Star Empire Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP).
Omkara Assets Reconstruction Pvt. Ltd filed an application under Section 7 of the IBC against 7 Star Empire Limited.
The Corporate Debtor defaulted on a loan facility of Rs.89,50,00,000/- extended by DHFL under a Loan Agreement dated 29.09.2017.
A loan recall notice was issued by the Financial Creditor on 08.11.2019 after the Corporate Debtor defaulted.
The Corporate Debtor paid Rs. 32,12,000/- towards the outstanding principal on 22.01.2020.
DHFL was taken over by Piramal Capital & Housing Finance Limited (PCHFL) through a resolution plan.
PCHFL filed CP(IB) No. 267 of 2022 for initiation of CIRP, which was later allowed to be withdrawn.
A settlement agreement was reached for Rs.45,45,00,000/-, but the Corporate Debtor only paid Rs. 19,06,53,270/-.
…Loan Agreement dated 29.09.2017 between the…
Letter No. DHFL/2017-18/…