The case pertains to an application filed by M/s. International Asset Reconstruction Company Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. KCT Steels Private Limited (Corporate Debtor). The Financial Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to outstanding debt. The Corporate Debtor was previously known as Agni Re-rollers Private Limited. The Financial Creditor claimed a total amount of Rs. 25,05,49,817.54, including principal and interest. The Corporate Debtor was proceeded ex parte due to their absence during the proceedings.
M/s. International Asset Reconstruction Company Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. KCT Steels Private Limited (Corporate Debtor), formerly known as Agni Re-rollers Private Limited. The Financial Creditor claimed an amount of Rs. 25,05,49,817.54, comprising Rs. 8,75,70,585.88 as principal and Rs. 15,87,59,957.80 as interest. The Corporate Debtor was proceeded ex parte due to their absence. M/s. Madhavmani Steels Private Limited approached M/s. Axis Bank Limited (previously UTI Bank Ltd., now assigned the debt to the Financial Creditor) for financial assistance. The Financial Creditor sanctioned various credit facilities, including cash credit, inland/import letter of credit,
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Financial Creditor sanctioned Cash Credit,…
Corporate Debtor executed a Deed of…
The case pertains to an application filed by M/s. International Asset Reconstruction Company Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. KCT Steels Private Limited (Corporate Debtor). The Financial Creditor sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to outstanding debt. The Corporate Debtor was previously known as Agni Re-rollers Private Limited. The Financial Creditor claimed a total amount of Rs. 25,05,49,817.54, including principal and interest. The Corporate Debtor was proceeded ex parte due to their absence during the proceedings.
M/s. International Asset Reconstruction Company Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. KCT Steels Private Limited (Corporate Debtor), formerly known as Agni Re-rollers Private Limited. The Financial Creditor claimed an amount of Rs. 25,05,49,817.54, comprising Rs. 8,75,70,585.88 as principal and Rs. 15,87,59,957.80 as interest. The Corporate Debtor was proceeded ex parte due to their absence. M/s. Madhavmani Steels Private Limited approached M/s. Axis Bank Limited (previously UTI Bank Ltd., now assigned the debt to the Financial Creditor) for financial assistance. The Financial Creditor sanctioned various credit facilities, including cash credit, inland/import letter of credit,
…Financial Creditor sanctioned Cash Credit,…
Corporate Debtor executed a Deed of…