State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Kannu Aditya (India) Limited, the corporate debtor. The application was based on the corporate debtor's failure to repay outstanding dues amounting to Rs. 306,86,83,742.44/- as of 22.07.2018. The corporate debtor had availed various working capital facilities from a consortium of banks, including State Bank of Mysore, State Bank of Travancore, and State Bank of Bikaner and Jaipur. The account was classified as NPA on 07.06.2017. Despite legal demand notices, the corporate debtor failed to liquidate the outstanding amount.
State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Kannu Aditya (India) Limited, the corporate debtor. SBI claimed that the corporate debtor had defaulted on a financial debt amounting to Rs. 306,86,83,742.44/- as of 22.07.2018. The corporate debtor had availed various working capital facilities from a consortium of banks, including State Bank of Mysore, State Bank of Travancore, and State Bank of Bikaner and Jaipur. These banks later merged with State Bank of India. The loan account was classified as Non-Performing Asset (NPA) on 07.06.2017. SBI sent legal demand notices to the corporate debtor, but the debtor failed to liquidate the
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The loan account of M/s Kannu Aditya (India)…
The outstanding dues of M/s Kannu…
State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Kannu Aditya (India) Limited, the corporate debtor. The application was based on the corporate debtor's failure to repay outstanding dues amounting to Rs. 306,86,83,742.44/- as of 22.07.2018. The corporate debtor had availed various working capital facilities from a consortium of banks, including State Bank of Mysore, State Bank of Travancore, and State Bank of Bikaner and Jaipur. The account was classified as NPA on 07.06.2017. Despite legal demand notices, the corporate debtor failed to liquidate the outstanding amount.
State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Kannu Aditya (India) Limited, the corporate debtor. SBI claimed that the corporate debtor had defaulted on a financial debt amounting to Rs. 306,86,83,742.44/- as of 22.07.2018. The corporate debtor had availed various working capital facilities from a consortium of banks, including State Bank of Mysore, State Bank of Travancore, and State Bank of Bikaner and Jaipur. These banks later merged with State Bank of India. The loan account was classified as Non-Performing Asset (NPA) on 07.06.2017. SBI sent legal demand notices to the corporate debtor, but the debtor failed to liquidate the
…The loan account of M/s Kannu Aditya (India)…
The outstanding dues of M/s Kannu…