The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Tourism Finance Corporation of India Limited ('Financial Creditor') against M/s. Appu Hotels Limited ('Corporate Debtor') to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claims that the Corporate Debtor has defaulted on its debt obligations. The application seeks to admit the application, initiate CIRP, declare a moratorium, and appoint an Interim Resolution Professional (IRP).
Tourism Finance Corporation of India Limited (TFCI) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Appu Hotels Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). TFCI claimed that Appu Hotels defaulted on loan repayments. Appu Hotels argued that it faced liquidity constraints and was attempting to sell assets to repay the debt. TFCI provided details of the financial debt, including sanction letters, board resolutions, loan agreements, and guarantees. The total outstanding amount was Rs.17,87,09,463/- plus interest, with default effective from 30.11.2019. Appu Hotels had availed term loans from TFCI and other banks, including Indian Bank, State Bank of India, IDBI Bank, and Bank of India. The
…Sign in to view the parties.
Sanction Letter issued by the Financial…
Loan Agreement along…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Tourism Finance Corporation of India Limited ('Financial Creditor') against M/s. Appu Hotels Limited ('Corporate Debtor') to initiate the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claims that the Corporate Debtor has defaulted on its debt obligations. The application seeks to admit the application, initiate CIRP, declare a moratorium, and appoint an Interim Resolution Professional (IRP).
Tourism Finance Corporation of India Limited (TFCI) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Appu Hotels Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). TFCI claimed that Appu Hotels defaulted on loan repayments. Appu Hotels argued that it faced liquidity constraints and was attempting to sell assets to repay the debt. TFCI provided details of the financial debt, including sanction letters, board resolutions, loan agreements, and guarantees. The total outstanding amount was Rs.17,87,09,463/- plus interest, with default effective from 30.11.2019. Appu Hotels had availed term loans from TFCI and other banks, including Indian Bank, State Bank of India, IDBI Bank, and Bank of India. The
…Sanction Letter issued by the Financial…
Loan Agreement along…