M/s. Metal Holdings India Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process. The company authorized Mr. Rajmal Mangilal Jain, Director, to file the application. Indian Overseas Bank, through its Nariman Point Branch, Mumbai, had granted various credit facilities to the company. The company was unable to discharge the outstanding amount due to the Financial Creditors and Operational Creditors.
M/s. Metal Holdings India Private Limited (the Company) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was authorized by Mr. Rajmal Mangilal Jain, a Director of the Company, via a Board Resolution dated April 26, 2017. The Company was seeking CIRP due to its inability to discharge outstanding debts to both financial and operational creditors. Indian Overseas Bank (IOB), through its Nariman Point Branch, had extended various credit facilities to the Company. As of May 30, 2014, the total outstanding amount was Rs. 64,89,12,014.00, with further interest at contractual rates. IOB had also issued a notice under Section 13(2) of the Securitisation and
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Board of Directors of Metal Holdings India…
Total outstanding amount due from the…
M/s. Metal Holdings India Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process. The company authorized Mr. Rajmal Mangilal Jain, Director, to file the application. Indian Overseas Bank, through its Nariman Point Branch, Mumbai, had granted various credit facilities to the company. The company was unable to discharge the outstanding amount due to the Financial Creditors and Operational Creditors.
M/s. Metal Holdings India Private Limited (the Company) filed an application to initiate Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was authorized by Mr. Rajmal Mangilal Jain, a Director of the Company, via a Board Resolution dated April 26, 2017. The Company was seeking CIRP due to its inability to discharge outstanding debts to both financial and operational creditors. Indian Overseas Bank (IOB), through its Nariman Point Branch, had extended various credit facilities to the Company. As of May 30, 2014, the total outstanding amount was Rs. 64,89,12,014.00, with further interest at contractual rates. IOB had also issued a notice under Section 13(2) of the Securitisation and
…Board of Directors of Metal Holdings India…
Total outstanding amount due from the…