The case involves an application filed by Ashraf Abdulla Kunju, a Corporate Applicant, under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Adhils Builders and Developers Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 07.12.2011 and had changed its name from Ashkab Builders and Developers Private Limited on 18.05.2016. The application was filed based on a special resolution dated 20.09.2019. The Corporate Debtor had availed a cash credit limit of ₹5,00,00,000/- from State Bank of Travancore under the MSMSE Vyapar Mithra Scheme, secured by hypothecation of stock. Due to slow economic conditions and trade practices, the Corporate Debtor faced difficulties
…Ashraf Abdulla Kunju, a Corporate Applicant, filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Adhils Builders and Developers Private Limited, the Corporate Debtor, under Section 10 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor was incorporated on 07.12.2011 and previously known as Ashkab Builders and Developers Private Limited until 18.05.2016. The application was supported by a special resolution dated 20.09.2019. The Corporate Debtor availed a cash credit limit of ₹5,00,00,000/- from State Bank of Travancore under the MSMSE Vyapar Mithra Scheme, secured by hypothecation of stock. The Corporate Debtor faced repayment difficulties due to adverse economic conditions, despite having repaid ₹2.29 crores.
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The Corporate Debtor,…
The Corporate Debtor changed its name from…
The case involves an application filed by Ashraf Abdulla Kunju, a Corporate Applicant, under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Adhils Builders and Developers Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 07.12.2011 and had changed its name from Ashkab Builders and Developers Private Limited on 18.05.2016. The application was filed based on a special resolution dated 20.09.2019. The Corporate Debtor had availed a cash credit limit of ₹5,00,00,000/- from State Bank of Travancore under the MSMSE Vyapar Mithra Scheme, secured by hypothecation of stock. Due to slow economic conditions and trade practices, the Corporate Debtor faced difficulties
…Ashraf Abdulla Kunju, a Corporate Applicant, filed an application to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Adhils Builders and Developers Private Limited, the Corporate Debtor, under Section 10 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor was incorporated on 07.12.2011 and previously known as Ashkab Builders and Developers Private Limited until 18.05.2016. The application was supported by a special resolution dated 20.09.2019. The Corporate Debtor availed a cash credit limit of ₹5,00,00,000/- from State Bank of Travancore under the MSMSE Vyapar Mithra Scheme, secured by hypothecation of stock. The Corporate Debtor faced repayment difficulties due to adverse economic conditions, despite having repaid ₹2.29 crores.
…The Corporate Debtor,…
The Corporate Debtor changed its name from…