Siemens Financial Services Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Sonali Exim Private Limited.
Siemens Financial Services Private Limited granted a term loan facility of Rs. 4,61,91,690 to Sonali Exim Private Limited as per the sanction letter dated 31.01.2024.
A finance agreement was executed on 06.02.2024.
Sonali Exim Private Limited defaulted in making the payment of the monthly installment due on 07.06.2024.
Siemens Financial Services Private Limited recalled all the sanctioned facilities by issuing a notice on 01.08.2024.
The outstanding amount was Rs. 5,00,02,974 as on 31.07.2024, along with interest and other charges.
The loan was to be repaid over 60 months at an interest rate of 14.5% per annum.
MVK IPE LLP was nominated as the Interim Resolution Professional (IRP).
The Respondent was duly served with notices but did not file a Vakalatnama or any reply.
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Date of the sanction…
Date of the execution…
Siemens Financial Services Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Sonali Exim Private Limited.
Siemens Financial Services Private Limited granted a term loan facility of Rs. 4,61,91,690 to Sonali Exim Private Limited as per the sanction letter dated 31.01.2024.
A finance agreement was executed on 06.02.2024.
Sonali Exim Private Limited defaulted in making the payment of the monthly installment due on 07.06.2024.
Siemens Financial Services Private Limited recalled all the sanctioned facilities by issuing a notice on 01.08.2024.
The outstanding amount was Rs. 5,00,02,974 as on 31.07.2024, along with interest and other charges.
The loan was to be repaid over 60 months at an interest rate of 14.5% per annum.
MVK IPE LLP was nominated as the Interim Resolution Professional (IRP).
The Respondent was duly served with notices but did not file a Vakalatnama or any reply.
…Date of the sanction…
Date of the execution…