The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Invent Assets Securitization & Reconstruction Pvt. Ltd. (the 'financial creditor') against Mohan Gems & Jewels Pvt Ltd (the 'corporate debtor') to initiate Corporate Insolvency Resolution Process (CIRP). The financial creditor claims that the corporate debtor defaulted on a financial debt of Rs. 75,62,03,501.01. The corporate debtor was incorporated on 14.02.2006. The account of the corporate debtor was declared as Non-Performing Asset (NPA) on 29.11.2015. The erstwhile State Bank of Patiala (now merged with the State Bank of India) assigned the debt to the financial creditor on 08.02.2017.
Invent Assets Securitization & Reconstruction Pvt. Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Mohan Gems & Jewels Pvt Ltd, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner, claiming to be a financial creditor, stated that the corporate debtor defaulted on a financial debt amounting to Rs. 75,62,03,501.01. Mohan Gems & Jewels Pvt Ltd was incorporated on 14.02.2006. The corporate debtor's account was declared a Non-Performing Asset (NPA) on 29.11.2015. The erstwhile State Bank of Patiala (now merged with the State Bank of India) assigned the debt to the petitioner on 08.02.2017. The petitioner proposed the name of Mr. Debashis Nanda as the Insolvency Professional. The
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Mohan Gems & Je…
The account of the…
The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Invent Assets Securitization & Reconstruction Pvt. Ltd. (the 'financial creditor') against Mohan Gems & Jewels Pvt Ltd (the 'corporate debtor') to initiate Corporate Insolvency Resolution Process (CIRP). The financial creditor claims that the corporate debtor defaulted on a financial debt of Rs. 75,62,03,501.01. The corporate debtor was incorporated on 14.02.2006. The account of the corporate debtor was declared as Non-Performing Asset (NPA) on 29.11.2015. The erstwhile State Bank of Patiala (now merged with the State Bank of India) assigned the debt to the financial creditor on 08.02.2017.
Invent Assets Securitization & Reconstruction Pvt. Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Mohan Gems & Jewels Pvt Ltd, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petitioner, claiming to be a financial creditor, stated that the corporate debtor defaulted on a financial debt amounting to Rs. 75,62,03,501.01. Mohan Gems & Jewels Pvt Ltd was incorporated on 14.02.2006. The corporate debtor's account was declared a Non-Performing Asset (NPA) on 29.11.2015. The erstwhile State Bank of Patiala (now merged with the State Bank of India) assigned the debt to the petitioner on 08.02.2017. The petitioner proposed the name of Mr. Debashis Nanda as the Insolvency Professional. The
…Mohan Gems & Je…
The account of the…