HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Turnrest Resources Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed due to default in payment of financial debt amounting to Rs. 30,50,29,341.25. Turnrest Resources Private Limited filed an Interlocutory Application (IA) under Section 65 of the IBC, alleging that the petition was filed with fraudulent and malicious intent.
HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Turnrest Resources Private Limited.
The petition was filed due to default in payment of financial debt amounting to Rs. 30,50,29,341.25.
The date of default was stated to be 16.07.2024.
Turnrest Resources Private Limited filed an Interlocutory Application (IA) under Section 65 of the IBC, alleging that the petition was filed with fraudulent and malicious intent.
The Financial Creditor had extended various credit facilities to the Corporate Debtor under Letter of Credit, Cash Credit, SBLC for BC-WC, and PSR.
The Corporate Debtor acknowledged its liability towards the Financial Creditor to the tune of Rs. 91,85,91,810/- vide letter dated 01.10.2023.
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The date of de…
The Company Petition CP…
HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Turnrest Resources Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed due to default in payment of financial debt amounting to Rs. 30,50,29,341.25. Turnrest Resources Private Limited filed an Interlocutory Application (IA) under Section 65 of the IBC, alleging that the petition was filed with fraudulent and malicious intent.
HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Turnrest Resources Private Limited.
The petition was filed due to default in payment of financial debt amounting to Rs. 30,50,29,341.25.
The date of default was stated to be 16.07.2024.
Turnrest Resources Private Limited filed an Interlocutory Application (IA) under Section 65 of the IBC, alleging that the petition was filed with fraudulent and malicious intent.
The Financial Creditor had extended various credit facilities to the Corporate Debtor under Letter of Credit, Cash Credit, SBLC for BC-WC, and PSR.
The Corporate Debtor acknowledged its liability towards the Financial Creditor to the tune of Rs. 91,85,91,810/- vide letter dated 01.10.2023.
…The date of de…
The Company Petition CP…