STCI Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Bohra Industries Limited, claiming to be a Financial Creditor. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in repayment of a loan amount. STCI Finance Limited, through its Assistant General Manager Mr. Rajesh Khanna, filed the application based on a board resolution dated 09.08.2017. The loan agreement between STCI Finance Limited and Bohra Industries Limited was dated 21.12.2017, with a loan amount of Rs. 24,00,00,000/- disbursed to Bohra Industries Limited for a tenure of six years against mortgage of various properties. The Corporate Debtor defaulted on the loan repayment, leading to the account
…STCI Finance Limited (the Applicant) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Bohra Industries Limited (the Corporate Debtor). The Applicant claimed to be a Financial Creditor. The application was filed through Mr. Rajesh Khanna, Assistant General Manager of STCI Finance Limited, authorized by a board resolution dated 09.08.2017. The Corporate Debtor had availed financial facility and entered into a Loan Agreement dated 21.12.2017, whereby a loan amount of Rs. 24,00,00,000/- was disbursed by the Applicant to the Corporate Debtor for a tenure of six years against mortgage of various properties. The Corporate Debtor was under obligation to pay the interest @12.60% p.a. with monthly rests and the principal loan amount
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Board resolution passed by STCI Finance Limited…
Letter of Intent…
STCI Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Bohra Industries Limited, claiming to be a Financial Creditor. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in repayment of a loan amount. STCI Finance Limited, through its Assistant General Manager Mr. Rajesh Khanna, filed the application based on a board resolution dated 09.08.2017. The loan agreement between STCI Finance Limited and Bohra Industries Limited was dated 21.12.2017, with a loan amount of Rs. 24,00,00,000/- disbursed to Bohra Industries Limited for a tenure of six years against mortgage of various properties. The Corporate Debtor defaulted on the loan repayment, leading to the account
…STCI Finance Limited (the Applicant) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Bohra Industries Limited (the Corporate Debtor). The Applicant claimed to be a Financial Creditor. The application was filed through Mr. Rajesh Khanna, Assistant General Manager of STCI Finance Limited, authorized by a board resolution dated 09.08.2017. The Corporate Debtor had availed financial facility and entered into a Loan Agreement dated 21.12.2017, whereby a loan amount of Rs. 24,00,00,000/- was disbursed by the Applicant to the Corporate Debtor for a tenure of six years against mortgage of various properties. The Corporate Debtor was under obligation to pay the interest @12.60% p.a. with monthly rests and the principal loan amount
…Board resolution passed by STCI Finance Limited…
Letter of Intent…