The case pertains to a Company Petition, CP(IB) No.23/10/HDB/2017, filed by Blossoms Oils & Fats Ltd (BOFL/Company) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 20.08.1998. Indian Overseas Bank issued a possession notice dated 09.03.2016 to the Company, directing it to pay dues under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI). Indian Bank also issued a demand notice dated 15.03.2016, classifying the loan account as a Non-Performing Asset since 30.09.2015. The company had
…Blossoms Oils & Fats Ltd filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 20.08.1998, with a nominal share capital of Rs.4900.00 lakhs and a paid-up share capital of Rs.4513.00 lakhs. The company's main object is to extract, manufacture, process, trade, and refine edible and non-edible oils. As of 31.01.2016, the total outstanding amount in default, excluding the principal not due, was Rs.285.56 Crores with respect to the Secured Creditors and Rs.32.72 crores with respect to the Unsecured Creditors, totaling Rs.318.28 Crores. Indian Overseas Bank had issued a possession notice dated 09.03.2016, and Indian Bank issued a demand notice
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Indian Overseas Bank issued a possession notice…
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The case pertains to a Company Petition, CP(IB) No.23/10/HDB/2017, filed by Blossoms Oils & Fats Ltd (BOFL/Company) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 20.08.1998. Indian Overseas Bank issued a possession notice dated 09.03.2016 to the Company, directing it to pay dues under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI). Indian Bank also issued a demand notice dated 15.03.2016, classifying the loan account as a Non-Performing Asset since 30.09.2015. The company had
…Blossoms Oils & Fats Ltd filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 20.08.1998, with a nominal share capital of Rs.4900.00 lakhs and a paid-up share capital of Rs.4513.00 lakhs. The company's main object is to extract, manufacture, process, trade, and refine edible and non-edible oils. As of 31.01.2016, the total outstanding amount in default, excluding the principal not due, was Rs.285.56 Crores with respect to the Secured Creditors and Rs.32.72 crores with respect to the Unsecured Creditors, totaling Rs.318.28 Crores. Indian Overseas Bank had issued a possession notice dated 09.03.2016, and Indian Bank issued a demand notice
…Indian Overseas Bank issued a possession notice…
Indian Bank issued a demand notice to the…