The case involves a petition filed by State Bank of India, Muscat, as the Financial Creditor, against GKC Projects Limited, the Corporate Debtor/Corporate Guarantor. The Financial Creditor claims that the Corporate Debtor defaulted on repaying a sum of Rs.7,54,87,767 as of 30.04.2019. The date of default is stated to be 31.01.2019. The petition is filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking admission of the petition and initiation of Corporate Insolvency Resolution Process against the Corporate Guarantor.
State Bank of India (Muscat Branch, Oman) filed a petition as the Financial Creditor against GKC Projects Limited, the Corporate Debtor/Corporate Guarantor, claiming a default of Rs.7,54,87,767 as of 30.04.2019, with the default date stated as 31.01.2019. GKC Projects LLC had availed a loan of Rs.9,05,00,000 as on 30.04.2018. The Financial Creditor issued a legal notice on 25.02.2019 to the Corporate Guarantor to repay the overdue amount. The Financial Creditor also filed a copy of the Statement of Account. The Financial Creditor recommended Sri. G. Madhusudhan Rao as the proposed IRP. The Corporate Debtor/Corporate Guarantor did not object to the petition. The Financial Creditor provided documents, including a Joint Venture Agreement dated 21.09.2012, letters,
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The date of de…
Financial Creditor issued legal notice dated…
The case involves a petition filed by State Bank of India, Muscat, as the Financial Creditor, against GKC Projects Limited, the Corporate Debtor/Corporate Guarantor. The Financial Creditor claims that the Corporate Debtor defaulted on repaying a sum of Rs.7,54,87,767 as of 30.04.2019. The date of default is stated to be 31.01.2019. The petition is filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking admission of the petition and initiation of Corporate Insolvency Resolution Process against the Corporate Guarantor.
State Bank of India (Muscat Branch, Oman) filed a petition as the Financial Creditor against GKC Projects Limited, the Corporate Debtor/Corporate Guarantor, claiming a default of Rs.7,54,87,767 as of 30.04.2019, with the default date stated as 31.01.2019. GKC Projects LLC had availed a loan of Rs.9,05,00,000 as on 30.04.2018. The Financial Creditor issued a legal notice on 25.02.2019 to the Corporate Guarantor to repay the overdue amount. The Financial Creditor also filed a copy of the Statement of Account. The Financial Creditor recommended Sri. G. Madhusudhan Rao as the proposed IRP. The Corporate Debtor/Corporate Guarantor did not object to the petition. The Financial Creditor provided documents, including a Joint Venture Agreement dated 21.09.2012, letters,
…The date of de…
Financial Creditor issued legal notice dated…