Punjab National Bank (International) Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Gokul Super Speciality Hospital Private Limited, claiming a default of USD 35,86,397.05. The Financial Creditor had provided a loan facility of USD 4.50 MN to the Corporate Debtor for setting up a Super Speciality Hospital in Udupi. The Corporate Debtor defaulted on repayment, leading to the issuance of a demand notice and invocation of personal guarantees. The Corporate Debtor filed objections, contending that the petition was not maintainable, offering to settle the dispute by paying up to USD 3 million, and alleging issues with the bank's calculations and delays due to
…Punjab National Bank (International) Limited ('the Financial Creditor') was incorporated on 13.04.2006. Gokul Super Speciality Hospital Private Limited ('the Corporate Debtor') was incorporated on 28.04.2005. The Financial Creditor provided a loan facility of USD 4.50 MN to the Corporate Debtor for setting up a Super Speciality Hospital in Udupi. The Corporate Debtor defaulted on repayment, leading to a Demand Notice on 17.09.2018. The amount due from the Corporate Debtor is USD 3,586,397.05. The Corporate Debtor filed objections, offering to settle the dispute by paying up to USD 3 million. The Financial Creditor refused an OTS on 21/08/2020. The Financial Creditor made a fresh One Time Settlement offer to the Respondent Corporate Debtor vide its letter dated
…Sign in to view the parties.
Punjab Nation…
Gokul Super Speciality…
Punjab National Bank (International) Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Gokul Super Speciality Hospital Private Limited, claiming a default of USD 35,86,397.05. The Financial Creditor had provided a loan facility of USD 4.50 MN to the Corporate Debtor for setting up a Super Speciality Hospital in Udupi. The Corporate Debtor defaulted on repayment, leading to the issuance of a demand notice and invocation of personal guarantees. The Corporate Debtor filed objections, contending that the petition was not maintainable, offering to settle the dispute by paying up to USD 3 million, and alleging issues with the bank's calculations and delays due to
…Punjab National Bank (International) Limited ('the Financial Creditor') was incorporated on 13.04.2006. Gokul Super Speciality Hospital Private Limited ('the Corporate Debtor') was incorporated on 28.04.2005. The Financial Creditor provided a loan facility of USD 4.50 MN to the Corporate Debtor for setting up a Super Speciality Hospital in Udupi. The Corporate Debtor defaulted on repayment, leading to a Demand Notice on 17.09.2018. The amount due from the Corporate Debtor is USD 3,586,397.05. The Corporate Debtor filed objections, offering to settle the dispute by paying up to USD 3 million. The Financial Creditor refused an OTS on 21/08/2020. The Financial Creditor made a fresh One Time Settlement offer to the Respondent Corporate Debtor vide its letter dated
…Punjab Nation…
Gokul Super Speciality…