The Bank of India, as the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Advance Navotpad Surfactants Limited, the corporate debtor. The financial creditor claimed a default of Rs. 44,25,47,206.83 as of 16.04.2018. The corporate debtor had availed loan facilities, including Term Loan-I, Term Loan-II, and Working Capital Facilities, which were later classified as Non-Performing Assets (NPA) on 31.03.2016. The financial creditor submitted details of the loan disbursements, default dates, and relevant documents to support the application.
Bank of India (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Advance Navotpad Surfactants Limited (Corporate Debtor). The Corporate Debtor availed loan facilities including Term Loan-I, Term Loan-II, and Working Capital Facilities. The total amount in default as of 16.04.2018 was Rs. 44,25,47,206.83. The account of the Corporate Debtor was declared as Non-Performing Asset (NPA) on 31.03.2016. The Financial Creditor provided details of loan disbursements, default dates, and relevant documents. The Corporate Debtor repeatedly sought time to file a reply but failed to do so. The Financial Creditor proposed the name of Mr. Sethurathnam Ravi as the
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Sanction letter no.…
Mr. Ranvir Singh, Assistant General Manager…
The Bank of India, as the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Advance Navotpad Surfactants Limited, the corporate debtor. The financial creditor claimed a default of Rs. 44,25,47,206.83 as of 16.04.2018. The corporate debtor had availed loan facilities, including Term Loan-I, Term Loan-II, and Working Capital Facilities, which were later classified as Non-Performing Assets (NPA) on 31.03.2016. The financial creditor submitted details of the loan disbursements, default dates, and relevant documents to support the application.
Bank of India (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Advance Navotpad Surfactants Limited (Corporate Debtor). The Corporate Debtor availed loan facilities including Term Loan-I, Term Loan-II, and Working Capital Facilities. The total amount in default as of 16.04.2018 was Rs. 44,25,47,206.83. The account of the Corporate Debtor was declared as Non-Performing Asset (NPA) on 31.03.2016. The Financial Creditor provided details of loan disbursements, default dates, and relevant documents. The Corporate Debtor repeatedly sought time to file a reply but failed to do so. The Financial Creditor proposed the name of Mr. Sethurathnam Ravi as the
…Sanction letter no.…
Mr. Ranvir Singh, Assistant General Manager…