Encore Asset Reconstruction Company Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sri Lakshmi Motor Service Private Limited due to a default of Rs. 45,58,78,061.
Encore Asset Reconstruction Company Private Limited filed a petition under Section 7 of the IBC to initiate CIRP against Sri Lakshmi Motor Service Private Limited.
The default amount claimed is Rs. 45,58,78,061 as of 28.11.2023, with the date of default being 25.09.2021.
The debt was originally owed to City Union Bank and was assigned to Encore Asset Reconstruction Company Private Limited on 31.03.2023.
Sri Lakshmi Motor Service Private Limited is a dealer in Eicher trucks and commercial vehicles.
The Corporate Debtor's accounts were classified as Non-Performing Asset (NPA) on 20.09.2021 by City Union Bank.
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The Section 7 petition…
The Respondent, Sri Lakshmi Motor Service…
Encore Asset Reconstruction Company Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sri Lakshmi Motor Service Private Limited due to a default of Rs. 45,58,78,061.
Encore Asset Reconstruction Company Private Limited filed a petition under Section 7 of the IBC to initiate CIRP against Sri Lakshmi Motor Service Private Limited.
The default amount claimed is Rs. 45,58,78,061 as of 28.11.2023, with the date of default being 25.09.2021.
The debt was originally owed to City Union Bank and was assigned to Encore Asset Reconstruction Company Private Limited on 31.03.2023.
Sri Lakshmi Motor Service Private Limited is a dealer in Eicher trucks and commercial vehicles.
The Corporate Debtor's accounts were classified as Non-Performing Asset (NPA) on 20.09.2021 by City Union Bank.
…The Section 7 petition…
The Respondent, Sri Lakshmi Motor Service…