SREI Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Maadurga Thermal Power Company Limited, citing default in repayment of a loan. The Financial Creditor had previously proposed Mr. Subodh Kumar Agrawal as Interim Resolution Professional (IRP), who later withdrew, and Mr. Rajesh Kumar Agrawal was proposed as a substitute.
SREI Equipment Finance Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Maadurga Thermal Power Company Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on loan repayments, with a total outstanding amount of Rs. 242,92,24,575/-. The loan was provided through five loan agreements dated 30.09.2013, 22.09.2014, 03.07.2015, 22.07.2015, and 01.10.2015, totaling Rs. 1,80,10,00,001/-. The Corporate Debtor admitted the debt but sought more time to pay. The Financial Creditor rejected the request for additional time. The Financial Creditor was incorporated on 13th June, 2006. The Corporate Debtor was
…Sign in to view the parties.
SREI Equipment…
Maadurga Therm…
SREI Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Maadurga Thermal Power Company Limited, citing default in repayment of a loan. The Financial Creditor had previously proposed Mr. Subodh Kumar Agrawal as Interim Resolution Professional (IRP), who later withdrew, and Mr. Rajesh Kumar Agrawal was proposed as a substitute.
SREI Equipment Finance Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Maadurga Thermal Power Company Limited, the Corporate Debtor. The Financial Creditor claimed that the Corporate Debtor defaulted on loan repayments, with a total outstanding amount of Rs. 242,92,24,575/-. The loan was provided through five loan agreements dated 30.09.2013, 22.09.2014, 03.07.2015, 22.07.2015, and 01.10.2015, totaling Rs. 1,80,10,00,001/-. The Corporate Debtor admitted the debt but sought more time to pay. The Financial Creditor rejected the request for additional time. The Financial Creditor was incorporated on 13th June, 2006. The Corporate Debtor was
…SREI Equipment…
Maadurga Therm…