Findoc Finvest Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Indian Yarn Limited due to a default of Rs. 1,84,54,577/-. The date of default was 24.08.2023.
Findoc Finvest Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Indian Yarn Limited, defaulted on a payment of Rs. 1,84,54,577/-.
The date of default was 24.08.2023.
The Financial Creditor extended a loan facility of Rs. 2,50,00,000/- to the Corporate Debtor.
The Corporate Debtor was required to repay the total amount by 24.03.2024.
The Corporate Debtor defaulted in making payment towards the monthly interest due in August 2023.
A demand notice was issued on 03.05.2024 by the Financial Creditor to the Corporate Debtor.
The applicant proposed the name of Mr. Sumit Sharma as the Interim Resolution Professional.
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The present Application…
The date of default, as…
Findoc Finvest Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Indian Yarn Limited due to a default of Rs. 1,84,54,577/-. The date of default was 24.08.2023.
Findoc Finvest Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Indian Yarn Limited, defaulted on a payment of Rs. 1,84,54,577/-.
The date of default was 24.08.2023.
The Financial Creditor extended a loan facility of Rs. 2,50,00,000/- to the Corporate Debtor.
The Corporate Debtor was required to repay the total amount by 24.03.2024.
The Corporate Debtor defaulted in making payment towards the monthly interest due in August 2023.
A demand notice was issued on 03.05.2024 by the Financial Creditor to the Corporate Debtor.
The applicant proposed the name of Mr. Sumit Sharma as the Interim Resolution Professional.
…The present Application…
The date of default, as…