Oriental Bank of Commerce filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against AVJ Infrastructure Private Limited. The corporate debtor was incorporated on 21.07.2008. The financial creditor claimed a default of Rs. 10,39,54,063/- as of 30.11.2016. The corporate debtor had approached the petitioner in December 2013 for a term loan facility of Rs. 10.00 Crores, which was sanctioned on 17.12.2013, to be repaid in 66 monthly installments commencing from June 2015. The account of the corporate debtor was classified as NPA on 29.01.2017. The financial creditor issued a notice on 15.03.2017 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and
…Oriental Bank of Commerce (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against AVJ Infrastructure Private Limited (Corporate Debtor). The Corporate Debtor was incorporated on 21.07.2008. The Financial Creditor claimed a default of Rs. 10,39,54,063/- as of 30.11.2016. In December 2013, the Corporate Debtor requested a term loan facility of Rs. 10.00 Crores from the Financial Creditor for participating in auctions for minor mineral blocks in Haryana. The loan was sanctioned on 17.12.2013, to be repaid in 66 monthly installments of Rs. 15.15 lac commencing from June 2015. The Corporate Debtor defaulted on payments with defaults occurring on 30.11.2016,
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AVJ Infrastructure…
AVJ Infrastructure Private Limited approached…
Oriental Bank of Commerce filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against AVJ Infrastructure Private Limited. The corporate debtor was incorporated on 21.07.2008. The financial creditor claimed a default of Rs. 10,39,54,063/- as of 30.11.2016. The corporate debtor had approached the petitioner in December 2013 for a term loan facility of Rs. 10.00 Crores, which was sanctioned on 17.12.2013, to be repaid in 66 monthly installments commencing from June 2015. The account of the corporate debtor was classified as NPA on 29.01.2017. The financial creditor issued a notice on 15.03.2017 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and
…Oriental Bank of Commerce (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against AVJ Infrastructure Private Limited (Corporate Debtor). The Corporate Debtor was incorporated on 21.07.2008. The Financial Creditor claimed a default of Rs. 10,39,54,063/- as of 30.11.2016. In December 2013, the Corporate Debtor requested a term loan facility of Rs. 10.00 Crores from the Financial Creditor for participating in auctions for minor mineral blocks in Haryana. The loan was sanctioned on 17.12.2013, to be repaid in 66 monthly installments of Rs. 15.15 lac commencing from June 2015. The Corporate Debtor defaulted on payments with defaults occurring on 30.11.2016,
…AVJ Infrastructure…
AVJ Infrastructure Private Limited approached…