The case pertains to a company petition filed by Brainer Trade And Fin-Tech Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Corporate Applicant disclosed financial defaults to Financial and Operational Creditors. The petition was supported by a special resolution passed by the shareholders and included audited financial statements, lists of creditors, and details of security provided for loans.
Brainer Trade and Fin-Tech Private Limited filed a company petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company's registered office is located in Mumbai and was incorporated on 08.11.2006. The Corporate Applicant disclosed outstanding dues of ₹21,86,76,474/- to Financial Creditors and Rs. 3,50,90,064/- to Operational Creditors. Janaseva Sahakari Bank Ltd and Pune People's Co-operative Bank Ltd had sanctioned credit facilities to the Corporate Applicant. The Board of Directors authorized Mr. Ghanshyam Ramkumar Chourasia to file the application. Janseva Sahakari Bank Ltd issued a SARFAESI Notice on 04.02.2017 requiring the Corporate Applicant to pay Rs. 16,80,93,675/-.
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Brainer Trade and…
Pune People's…
The case pertains to a company petition filed by Brainer Trade And Fin-Tech Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP). The Corporate Applicant disclosed financial defaults to Financial and Operational Creditors. The petition was supported by a special resolution passed by the shareholders and included audited financial statements, lists of creditors, and details of security provided for loans.
Brainer Trade and Fin-Tech Private Limited filed a company petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The company's registered office is located in Mumbai and was incorporated on 08.11.2006. The Corporate Applicant disclosed outstanding dues of ₹21,86,76,474/- to Financial Creditors and Rs. 3,50,90,064/- to Operational Creditors. Janaseva Sahakari Bank Ltd and Pune People's Co-operative Bank Ltd had sanctioned credit facilities to the Corporate Applicant. The Board of Directors authorized Mr. Ghanshyam Ramkumar Chourasia to file the application. Janseva Sahakari Bank Ltd issued a SARFAESI Notice on 04.02.2017 requiring the Corporate Applicant to pay Rs. 16,80,93,675/-.
…Brainer Trade and…
Pune People's…