The case involves an application filed under Section 12A of the IB Code (Amendment) Ordinance, 2018, concerning M/s. Andavar Home Creators Private Limited. Shri S.V. Pravin Rathinam, the applicant and financial creditor, initiated proceedings against Andavar Home Creators Private Limited, the corporate debtor, and M/s. Punjab and Sind Bank, the 2nd respondent and financial creditor. The applicant and the 2nd respondent bank submitted their claims to the IRP. The Committee of Creditors (COC) was constituted on 21.04.2018.
Shri S.V. Pravin Rathinam, acting as the Applicant/Financial Creditor, initiated a case against M/s. Andavar Home Creators Private Limited, the Corporate Debtor. Punjab & Sind Bank was the 2nd Respondent/Financial Creditor. The Applicant claimed Rs. 41,15,475.64/-, while the 2nd Respondent Bank claimed Rs. 5,88,59,261.70/-, totaling Rs. 6,29,74,740.34/-. The Committee of Creditors (COC) was constituted on 2018-04-21. The 1st COC meeting was held on 2018-04-28, where the applicant informed the IRP that the 2nd Respondent Bank had provided a loan to the Corporate Debtor based on a guarantee from the applicant and Mr. K.G Soundarajan. A One Time Settlement (OTS) was proposed by the applicant on behalf of the Corporate Debtor for Rs. 5.59 crores to the 2nd Respondent
…Sign in to view the parties.
The Committ…
The 1st Meeting of Committee of Creditors was…
The case involves an application filed under Section 12A of the IB Code (Amendment) Ordinance, 2018, concerning M/s. Andavar Home Creators Private Limited. Shri S.V. Pravin Rathinam, the applicant and financial creditor, initiated proceedings against Andavar Home Creators Private Limited, the corporate debtor, and M/s. Punjab and Sind Bank, the 2nd respondent and financial creditor. The applicant and the 2nd respondent bank submitted their claims to the IRP. The Committee of Creditors (COC) was constituted on 21.04.2018.
Shri S.V. Pravin Rathinam, acting as the Applicant/Financial Creditor, initiated a case against M/s. Andavar Home Creators Private Limited, the Corporate Debtor. Punjab & Sind Bank was the 2nd Respondent/Financial Creditor. The Applicant claimed Rs. 41,15,475.64/-, while the 2nd Respondent Bank claimed Rs. 5,88,59,261.70/-, totaling Rs. 6,29,74,740.34/-. The Committee of Creditors (COC) was constituted on 2018-04-21. The 1st COC meeting was held on 2018-04-28, where the applicant informed the IRP that the 2nd Respondent Bank had provided a loan to the Corporate Debtor based on a guarantee from the applicant and Mr. K.G Soundarajan. A One Time Settlement (OTS) was proposed by the applicant on behalf of the Corporate Debtor for Rs. 5.59 crores to the 2nd Respondent
…The Committ…
The 1st Meeting of Committee of Creditors was…