Karnataka State Financial Corporation filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the Respondent No. 2 to complete formalities and pay the balance amount of Rs. 85,70,556.00 as per the Compromise Scheme dated 08.01.2021.
Karnataka State Financial Corporation filed an application seeking payment of Rs. 85,70,556.00 from Respondent No. 2 as per the Compromise Scheme dated 08.01.2021.
The application against the Corporate Debtor was admitted on 11.04.2019, and liquidation proceedings were initiated on 6.1.2020.
The liquidator received a compromise proposal from Respondent No. 2 on 9.03.2020, and the secured creditors unanimously approved the Compromise Scheme on 30.03.2020.
Respondent No. 2 was the only Resolution Applicant during the CIRP.
The Tribunal approved the Scheme of Compromise on 08.01.2021 and appointed a Supervisory Committee.
The Applicant assigned the loan of Rs.18,01,00,000.00 to VELS Films International Limited.
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Karnataka State Financial Corporation filed an…
The application filed…
Karnataka State Financial Corporation filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the Respondent No. 2 to complete formalities and pay the balance amount of Rs. 85,70,556.00 as per the Compromise Scheme dated 08.01.2021.
Karnataka State Financial Corporation filed an application seeking payment of Rs. 85,70,556.00 from Respondent No. 2 as per the Compromise Scheme dated 08.01.2021.
The application against the Corporate Debtor was admitted on 11.04.2019, and liquidation proceedings were initiated on 6.1.2020.
The liquidator received a compromise proposal from Respondent No. 2 on 9.03.2020, and the secured creditors unanimously approved the Compromise Scheme on 30.03.2020.
Respondent No. 2 was the only Resolution Applicant during the CIRP.
The Tribunal approved the Scheme of Compromise on 08.01.2021 and appointed a Supervisory Committee.
The Applicant assigned the loan of Rs.18,01,00,000.00 to VELS Films International Limited.
…Karnataka State Financial Corporation filed an…
The application filed…