The Small Industries Development Bank of India (SIDBI) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Hamsa Dairy Private Limited due to default in payment of outstanding dues.
SIDBI filed a petition under Section 7 of IBC against Hamsa Dairy Private Limited for default in payment of Rs.3,11,35,532.80 as of 10.01.2023.
Hamsa Dairy Private Limited approached SIDBI for financial assistance in 2017 and was sanctioned term loans, a soft loan, and a working capital limit.
Hamsa Dairy Private Limited defaulted in paying EMIs, and its account was classified as NPA on 10.04.2023.
SIDBI issued recall notices to Hamsa Dairy Private Limited, but the Corporate Debtor failed to repay the dues.
Hamsa Dairy Private Limited argued that SIDBI suppressed the fact of filing O.A. No. 375/2024 before the DRT.
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The Financial Creditor…
Order pronounced and recorded vide…
The Small Industries Development Bank of India (SIDBI) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Hamsa Dairy Private Limited due to default in payment of outstanding dues.
SIDBI filed a petition under Section 7 of IBC against Hamsa Dairy Private Limited for default in payment of Rs.3,11,35,532.80 as of 10.01.2023.
Hamsa Dairy Private Limited approached SIDBI for financial assistance in 2017 and was sanctioned term loans, a soft loan, and a working capital limit.
Hamsa Dairy Private Limited defaulted in paying EMIs, and its account was classified as NPA on 10.04.2023.
SIDBI issued recall notices to Hamsa Dairy Private Limited, but the Corporate Debtor failed to repay the dues.
Hamsa Dairy Private Limited argued that SIDBI suppressed the fact of filing O.A. No. 375/2024 before the DRT.
…The Financial Creditor…
Order pronounced and recorded vide…