The financial creditor filed a petition under Section 7 of the IBC, 2016, seeking to initiate a Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to an alleged default in loan repayment.
Veer Chemicals Pvt. Ltd. (Veer/Principal Borrower) obtained loan facilities from Sammaan Capital Ltd. (SCL) for construction and residential projects. SCL issued a sanction letter and subsequently entered into a Loan Agreement with Veer for Rs. 150,00,00,000/- on October 30, 2018. The loan amount was disbursed on November 2, 2018.
…SCL and Veer Chemicals…
SCL disburs…
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The financial creditor filed a petition under Section 7 of the IBC, 2016, seeking to initiate a Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to an alleged default in loan repayment.
Veer Chemicals Pvt. Ltd. (Veer/Principal Borrower) obtained loan facilities from Sammaan Capital Ltd. (SCL) for construction and residential projects. SCL issued a sanction letter and subsequently entered into a Loan Agreement with Veer for Rs. 150,00,00,000/- on October 30, 2018. The loan amount was disbursed on November 2, 2018.
…SCL and Veer Chemicals…
SCL disburs…
Sign in to view related legal provisions.