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 default on a term loan facility granted to the corporate debtor. The corporate debtor had approached the petitioner in December 2013 for a term loan of Rs. 10.00 Crores to participate in auctions for minor mineral blocks in Haryana, which was sanctioned on 17.12.2013. The loan was to be repaid in 66 monthly installments commencing June 2015.
Oriental Bank of Commerce (the 'Financial Creditor') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against AVJ Infrastructure Private Limited (the 'Corporate Debtor'). The Corporate Debtor was incorporated on 21.07.2008. The Financial Creditor granted a term loan facility to the Corporate Debtor. In December 2013, the Corporate Debtor requested a term loan of Rs. 10.00 Crores to participate in auctions for minor mineral blocks in Haryana. The Financial Creditor sanctioned the loan on 17.12.2013. The loan was to be repaid in 66 equal monthly installments of Rs. 15.15 lac commencing from June 2015. The Corporate Debtor defaulted on repayments. The amount claimed to be in
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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 default on a term loan facility granted to the corporate debtor. The corporate debtor had approached the petitioner in December 2013 for a term loan of Rs. 10.00 Crores to participate in auctions for minor mineral blocks in Haryana, which was sanctioned on 17.12.2013. The loan was to be repaid in 66 monthly installments commencing June 2015.
Oriental Bank of Commerce (the 'Financial Creditor') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC') to initiate Corporate Insolvency Resolution Process ('CIRP') against AVJ Infrastructure Private Limited (the 'Corporate Debtor'). The Corporate Debtor was incorporated on 21.07.2008. The Financial Creditor granted a term loan facility to the Corporate Debtor. In December 2013, the Corporate Debtor requested a term loan of Rs. 10.00 Crores to participate in auctions for minor mineral blocks in Haryana. The Financial Creditor sanctioned the loan on 17.12.2013. The loan was to be repaid in 66 equal monthly installments of Rs. 15.15 lac commencing from June 2015. The Corporate Debtor defaulted on repayments. The amount claimed to be in
…AVJ Infrastructure…
AVJ Infrastructure Private Limited approached…