Alchemist Asset Reconstruction Co. Ltd. (AARC), the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Moser Baer India Ltd., the Corporate Debtor. AARC acquired the secured debt of State Bank of Hyderabad (now merged with State Bank of India) via an assignment deed dated 30.03.2016. The application was filed due to defaults in repayment of financial debt by Moser Baer India Ltd.
Alchemist Asset Reconstruction Co. Ltd. (AARC) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Moser Baer India Ltd. AARC acquired the secured debt of State Bank of Hyderabad (now merged with State Bank of India) via an assignment deed dated 30.03.2016. The financial creditor/applicant was incorporated on 19.09.2002. The corporate debtor was incorporated on 21.03.1983. The total amount of debt disbursed by State Bank of Hyderabad to the Corporate Debtor was Rs. 100.00 Crores, consisting of a Corporate Loan Agreement (Rs. 50.00 Crores disbursed on 25.09.2009) and a Working Capital Facility (Rs. 50.00 Crores disbursed on 31.05.2010). This debt was restructured on
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AARC acquired the…
Alchemist Asset…
Alchemist Asset Reconstruction Co. Ltd. (AARC), the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Moser Baer India Ltd., the Corporate Debtor. AARC acquired the secured debt of State Bank of Hyderabad (now merged with State Bank of India) via an assignment deed dated 30.03.2016. The application was filed due to defaults in repayment of financial debt by Moser Baer India Ltd.
Alchemist Asset Reconstruction Co. Ltd. (AARC) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Moser Baer India Ltd. AARC acquired the secured debt of State Bank of Hyderabad (now merged with State Bank of India) via an assignment deed dated 30.03.2016. The financial creditor/applicant was incorporated on 19.09.2002. The corporate debtor was incorporated on 21.03.1983. The total amount of debt disbursed by State Bank of Hyderabad to the Corporate Debtor was Rs. 100.00 Crores, consisting of a Corporate Loan Agreement (Rs. 50.00 Crores disbursed on 25.09.2009) and a Working Capital Facility (Rs. 50.00 Crores disbursed on 31.05.2010). This debt was restructured on
…AARC acquired the…
Alchemist Asset…