Reliance Commercial Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Noble Resourcing Business & Solutions Private Limited. The financial creditor claimed that the corporate debtor defaulted on a loan facility. The debt was originally payable to Reliance Capital Finance Limited and was transferred to Reliance Commercial Finance Limited following a scheme of arrangement sanctioned by the Bombay High Court. The corporate debtor opposed the application, raising concerns about discrepancies in loan disbursement and repayment.
Reliance Commercial Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Noble Resourcing Business & Solutions Private Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan facility. The debt was originally payable to Reliance Capital Finance Limited and was transferred to Reliance Commercial Finance Limited following a scheme of arrangement sanctioned by the Bombay High Court on 09.12.2016. The Financial Creditor sanctioned a loan of Rs. 1,06,35,000/- to the Corporate Debtor for purchasing three machines, disbursing the loan on 30.09.2015. The Corporate Debtor failed to make payments
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Reliance Commercial…
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Reliance Commercial Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Noble Resourcing Business & Solutions Private Limited. The financial creditor claimed that the corporate debtor defaulted on a loan facility. The debt was originally payable to Reliance Capital Finance Limited and was transferred to Reliance Commercial Finance Limited following a scheme of arrangement sanctioned by the Bombay High Court. The corporate debtor opposed the application, raising concerns about discrepancies in loan disbursement and repayment.
Reliance Commercial Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Noble Resourcing Business & Solutions Private Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a loan facility. The debt was originally payable to Reliance Capital Finance Limited and was transferred to Reliance Commercial Finance Limited following a scheme of arrangement sanctioned by the Bombay High Court on 09.12.2016. The Financial Creditor sanctioned a loan of Rs. 1,06,35,000/- to the Corporate Debtor for purchasing three machines, disbursing the loan on 30.09.2015. The Corporate Debtor failed to make payments
…Reliance Commercial…
Noble Resourcing…