SREI Infrastructure Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against K.S. Oils Limited. The application pertains to a Rupee Term Loan of Rs. 100 Crores sanctioned by SREI to K.S. Oils on August 16, 2010. A Rupee Loan Agreement No. SRE 130 was entered into on August 23, 2010. K.S. Oils executed a Deed of Hypothecation, Demand Promissory Note, and Mr. Ramesh Chandra Garg executed a Deed of Guarantee, all dated August 23, 2010, as security. K.S. Oils failed to make payments, and various cheques were dishonored. SREI initiated proceedings under the Negotiable Instruments Act. A Supplementary Agreement was entered into on September 2, 2011, and a Master Restructuring Agreement on March 14, 2012. SREI became a CDR
…SREI Infrastructure Finance Limited (the Applicant) sanctioned a Rupee Term Loan of Rs. 100 Crores to K.S. Oils Limited (the Respondent) on August 16, 2010. The terms and conditions were accepted, and a Rupee Loan Agreement No. SRE 130 was entered into on August 23, 2010. As security, K.S. Oils executed a Deed of Hypothecation dated August 23, 2010, a Demand Promissory Note, and Mr. Ramesh Chandra Garg executed a Deed of Guarantee dated August 23, 2010. K.S. Oils failed to make payments, and various cheques were dishonored. SREI initiated proceedings under the Negotiable Instruments Act. A Supplementary Agreement was entered into on September 2, 2011, and a Master Restructuring Agreement on March 14, 2012. SREI became a CDR Lender on June 28, 2013, but the CDR package
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Applicant sanctioned…
Rupee Loan Agreement…
SREI Infrastructure Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against K.S. Oils Limited. The application pertains to a Rupee Term Loan of Rs. 100 Crores sanctioned by SREI to K.S. Oils on August 16, 2010. A Rupee Loan Agreement No. SRE 130 was entered into on August 23, 2010. K.S. Oils executed a Deed of Hypothecation, Demand Promissory Note, and Mr. Ramesh Chandra Garg executed a Deed of Guarantee, all dated August 23, 2010, as security. K.S. Oils failed to make payments, and various cheques were dishonored. SREI initiated proceedings under the Negotiable Instruments Act. A Supplementary Agreement was entered into on September 2, 2011, and a Master Restructuring Agreement on March 14, 2012. SREI became a CDR
…SREI Infrastructure Finance Limited (the Applicant) sanctioned a Rupee Term Loan of Rs. 100 Crores to K.S. Oils Limited (the Respondent) on August 16, 2010. The terms and conditions were accepted, and a Rupee Loan Agreement No. SRE 130 was entered into on August 23, 2010. As security, K.S. Oils executed a Deed of Hypothecation dated August 23, 2010, a Demand Promissory Note, and Mr. Ramesh Chandra Garg executed a Deed of Guarantee dated August 23, 2010. K.S. Oils failed to make payments, and various cheques were dishonored. SREI initiated proceedings under the Negotiable Instruments Act. A Supplementary Agreement was entered into on September 2, 2011, and a Master Restructuring Agreement on March 14, 2012. SREI became a CDR Lender on June 28, 2013, but the CDR package
…Applicant sanctioned…
Rupee Loan Agreement…