Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Jay Ambey Rice Mills Ltd., the Corporate Guarantor for the credit facilities availed by the Principal Borrower, M/s Bhagwati Rice Mills Private Limited.
Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Jay Ambey Rice Mills Ltd.
M/s Jay Ambey Rice Mills Ltd. is the Corporate Guarantor for the credit facilities availed by M/s Bhagwati Rice Mills Private Limited.
The Principal Borrower, M/s Bhagwati Rice Mills Private Limited, availed various credit facilities from Punjab National Bank, aggregating to Rs. 66,00,00,000/-.
The Corporate Guarantee was executed by M/s Jay Ambey Rice Mills Ltd. on 23.11.2022, guaranteeing repayment of the credit facilities to the extent of Rs. 52,77,00,000/-.
The account of the Principal Borrower was classified as NPA on 08.06.2023.
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Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Jay Ambey Rice Mills Ltd., the Corporate Guarantor for the credit facilities availed by the Principal Borrower, M/s Bhagwati Rice Mills Private Limited.
Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Jay Ambey Rice Mills Ltd.
M/s Jay Ambey Rice Mills Ltd. is the Corporate Guarantor for the credit facilities availed by M/s Bhagwati Rice Mills Private Limited.
The Principal Borrower, M/s Bhagwati Rice Mills Private Limited, availed various credit facilities from Punjab National Bank, aggregating to Rs. 66,00,00,000/-.
The Corporate Guarantee was executed by M/s Jay Ambey Rice Mills Ltd. on 23.11.2022, guaranteeing repayment of the credit facilities to the extent of Rs. 52,77,00,000/-.
The account of the Principal Borrower was classified as NPA on 08.06.2023.
…The Principal Borrower…
The Corporate Debtor…