The Sugar Development Fund, Government of India, through IFCI Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Bhalkeshwar Sugars Limited.
Sugar Development Fund, Government of India, through IFCI Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Bhalkeshwar Sugars Limited, defaulted on a payment of Rs. 2,75,81,652/-.
The Financial Creditor had sanctioned a credit facility of Rs. 6,11,80,700/- to the Corporate Debtor on 10.11.2015.
The Corporate Debtor executed a Mortgage Deed and a Hypothecation Deed dated 07.05.2016 in favor of the Financial Creditor.
The Financial Creditor issued a Formal Loan recall notice to the Corporate Debtor on 28.02.2025.
The Corporate Debtor acknowledged the debt in its financial statements for the FY ending 2021-22 and 2022-23.
…Sign in to view the parties.
Financial Creditor sanctioned a credit…
Corporate Debtor executed a Mortgage Deed…
The Sugar Development Fund, Government of India, through IFCI Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Bhalkeshwar Sugars Limited.
Sugar Development Fund, Government of India, through IFCI Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Bhalkeshwar Sugars Limited, defaulted on a payment of Rs. 2,75,81,652/-.
The Financial Creditor had sanctioned a credit facility of Rs. 6,11,80,700/- to the Corporate Debtor on 10.11.2015.
The Corporate Debtor executed a Mortgage Deed and a Hypothecation Deed dated 07.05.2016 in favor of the Financial Creditor.
The Financial Creditor issued a Formal Loan recall notice to the Corporate Debtor on 28.02.2025.
The Corporate Debtor acknowledged the debt in its financial statements for the FY ending 2021-22 and 2022-23.
…Financial Creditor sanctioned a credit…
Corporate Debtor executed a Mortgage Deed…