Aditya Birla Capital Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ace Embedded Intensive Care Units Pvt. Ltd. due to a default in payment of a financial debt.
Aditya Birla Capital Limited (ABFL), a wholly-owned subsidiary of the Financial Creditor, was an NBFC providing credit facilities.
ABFL was amalgamated with the Financial Creditor effective 01.04.2025.
Ace Embedded Intensive Care Units Pvt. Ltd. is engaged in providing intensive care units to hospitals.
In October 2023, the Corporate Debtor approached ABFL for a loan to expand its business.
The Financial Creditor sanctioned a Term Loan of Rs 10,00,00,000/- on 16.11.2023 with an interest rate of 11.5% per annum.
A Loan Agreement was entered into on 18.11.2023, and an initial disbursement of Rs 6,00,00,000/- was made.
The Corporate Debtor made EMI payments between November 2023 and January 2025 but defaulted thereafter.
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Corporate Debtor approached Financial…
Financial Creditor…
Aditya Birla Capital Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ace Embedded Intensive Care Units Pvt. Ltd. due to a default in payment of a financial debt.
Aditya Birla Capital Limited (ABFL), a wholly-owned subsidiary of the Financial Creditor, was an NBFC providing credit facilities.
ABFL was amalgamated with the Financial Creditor effective 01.04.2025.
Ace Embedded Intensive Care Units Pvt. Ltd. is engaged in providing intensive care units to hospitals.
In October 2023, the Corporate Debtor approached ABFL for a loan to expand its business.
The Financial Creditor sanctioned a Term Loan of Rs 10,00,00,000/- on 16.11.2023 with an interest rate of 11.5% per annum.
A Loan Agreement was entered into on 18.11.2023, and an initial disbursement of Rs 6,00,00,000/- was made.
The Corporate Debtor made EMI payments between November 2023 and January 2025 but defaulted thereafter.
…Corporate Debtor approached Financial…
Financial Creditor…