The case involves an application filed by Indian Bank, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Jeppiaar Cements Private Limited, the Corporate Debtor. The Corporate Debtor acted as a guarantor for the principal borrower, M/s. Jeppiaar Power Corporation Private Limited, which defaulted on loan repayments. The outstanding loan amount was ₹147,89,38,608.49 as of 21.12.2018. The Creditor Bank had provided loan facilities to the Principal Borrower as Term Loan-I and Term Loan-II, disbursing ₹91,76,98,358 on 23.11.2013 and ₹42,23,07,534 on 03.12.2016, respectively. The Corporate Debtor provided a Corporate Guarantee based on board resolutions. The
…Indian Bank, the Financial Creditor, extended loan facilities to M/s. Jeppiaar Power Corporation Private Limited, the Principal Borrower. M/s. Jeppiaar Cements Private Limited, the Corporate Debtor, acted as a guarantor for these loans. The Principal Borrower defaulted on loan repayments, leading to an outstanding amount of ₹147,89,38,608.49 as of 21.12.2018. The Creditor Bank disbursed ₹91,76,98,358 on 23.11.2013 as Term Loan-I and ₹42,23,07,534 on 03.12.2016 as Term Loan-II. The Corporate Debtor provided a Corporate Guarantee based on board resolutions. The Creditor Bank issued a demand notice on 15.10.2018 to the Principal Borrower and Corporate Guarantors. The Creditor Bank also filed Original Application No.182/2019 before DRT-II, Chennai, for recovery of
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Creditor Bank d…
Creditor Bank d…
The case involves an application filed by Indian Bank, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Jeppiaar Cements Private Limited, the Corporate Debtor. The Corporate Debtor acted as a guarantor for the principal borrower, M/s. Jeppiaar Power Corporation Private Limited, which defaulted on loan repayments. The outstanding loan amount was ₹147,89,38,608.49 as of 21.12.2018. The Creditor Bank had provided loan facilities to the Principal Borrower as Term Loan-I and Term Loan-II, disbursing ₹91,76,98,358 on 23.11.2013 and ₹42,23,07,534 on 03.12.2016, respectively. The Corporate Debtor provided a Corporate Guarantee based on board resolutions. The
…Indian Bank, the Financial Creditor, extended loan facilities to M/s. Jeppiaar Power Corporation Private Limited, the Principal Borrower. M/s. Jeppiaar Cements Private Limited, the Corporate Debtor, acted as a guarantor for these loans. The Principal Borrower defaulted on loan repayments, leading to an outstanding amount of ₹147,89,38,608.49 as of 21.12.2018. The Creditor Bank disbursed ₹91,76,98,358 on 23.11.2013 as Term Loan-I and ₹42,23,07,534 on 03.12.2016 as Term Loan-II. The Corporate Debtor provided a Corporate Guarantee based on board resolutions. The Creditor Bank issued a demand notice on 15.10.2018 to the Principal Borrower and Corporate Guarantors. The Creditor Bank also filed Original Application No.182/2019 before DRT-II, Chennai, for recovery of
…Creditor Bank d…
Creditor Bank d…