The Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, before the National Company Law Tribunal (NCLT), Kolkata Bench, against M/s. Amrit Fresh Pvt. Ltd., seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on the Corporate Debtor's default in repayment of loans granted by the Financial Creditor. The Financial Creditor had sanctioned and disbursed a corporate loan aggregating to Rs. 20,00,00,000/- to the Corporate Debtor, secured by hypothecation of stocks, plant, machinery, book debts, and receivables, as well as an equitable mortgage over the Corporate Debtor's immovable
…Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Amrit Fresh Pvt. Ltd., the Corporate Debtor, due to default in repayment of loans. The Corporate Debtor was incorporated on June 3, 2009, with an authorized share capital of Rs. 10,00,00,000/- and a paid-up share capital of Rs. 8,19,27,400/-. The Financial Creditor granted loans to the Corporate Debtor vide sanction letter dated August 20, 2013, for a cumulative value of Rs. 20,00,00,000/-, including a term loan of Rs. 13,00,00,000/-, a working capital limit of Rs. 6,00,00,000/-, and a bank guarantee of Rs. 1,00,00,000/-. The Corporate Debtor hypothecated its stocks, plant, machinery, book debts, and receivables, and created an equitable
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Financial Creditor granted loans vide…
Corporate Debtor executed equitable mortgage…
The Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, before the National Company Law Tribunal (NCLT), Kolkata Bench, against M/s. Amrit Fresh Pvt. Ltd., seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on the Corporate Debtor's default in repayment of loans granted by the Financial Creditor. The Financial Creditor had sanctioned and disbursed a corporate loan aggregating to Rs. 20,00,00,000/- to the Corporate Debtor, secured by hypothecation of stocks, plant, machinery, book debts, and receivables, as well as an equitable mortgage over the Corporate Debtor's immovable
…Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Amrit Fresh Pvt. Ltd., the Corporate Debtor, due to default in repayment of loans. The Corporate Debtor was incorporated on June 3, 2009, with an authorized share capital of Rs. 10,00,00,000/- and a paid-up share capital of Rs. 8,19,27,400/-. The Financial Creditor granted loans to the Corporate Debtor vide sanction letter dated August 20, 2013, for a cumulative value of Rs. 20,00,00,000/-, including a term loan of Rs. 13,00,00,000/-, a working capital limit of Rs. 6,00,00,000/-, and a bank guarantee of Rs. 1,00,00,000/-. The Corporate Debtor hypothecated its stocks, plant, machinery, book debts, and receivables, and created an equitable
…Financial Creditor granted loans vide…
Corporate Debtor executed equitable mortgage…