M/s. Nysa Enterprises Pvt. Ltd. filed C.P. (IB) No.02/BB/2017 under Section 10 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company claimed it defaulted on a total outstanding amount of Rs.56,55,587.21 out of a total debt of Rs.60,00,000. The company's inability to continue its business due to the termination of a franchise agreement with V.F. Brands India Private Limited, leading to the closure of its store, was cited as the reason for its financial distress. The company had taken loans from ICICI Bank, Zen Lefin Pvt. Ltd., and HDFC Bank Ltd. One of the financial creditors, Zen Lefin Pvt. Ltd., objected, stating that the company had the financial capability to repay its debt. HDFC Bank also contested the application,
…M/s. Nysa Enterprises Pvt. Ltd., a private limited company incorporated on 05.09.2005, filed an application under Section 10 of the IBC, 2016, to initiate CIRP. The company's registered office is located at No.126, Wrangler Showroom, 1st Floor, The Forum Mall, No.21, Hosur Road, Koramangala, Bangalore-560029. The company's authorized share capital is Rs.20,00,000, and its paid-up share capital is Rs.10,00,000. The company's main objects include carrying on business as dealers, distributors, processors, inventors, makers, packers, movers, stockists, agents, sub-agents, merchants, consignors, and brokers of garments, fabrics, textile, and cloth. The company had a franchise outlet of V.F. Brands India Private Limited for 'Wrangler Jeans' at Forum Mall. The franchise
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M/s. Nysa Enterprises…
Corporate Debtor issued a letter to all the…
M/s. Nysa Enterprises Pvt. Ltd. filed C.P. (IB) No.02/BB/2017 under Section 10 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company claimed it defaulted on a total outstanding amount of Rs.56,55,587.21 out of a total debt of Rs.60,00,000. The company's inability to continue its business due to the termination of a franchise agreement with V.F. Brands India Private Limited, leading to the closure of its store, was cited as the reason for its financial distress. The company had taken loans from ICICI Bank, Zen Lefin Pvt. Ltd., and HDFC Bank Ltd. One of the financial creditors, Zen Lefin Pvt. Ltd., objected, stating that the company had the financial capability to repay its debt. HDFC Bank also contested the application,
…M/s. Nysa Enterprises Pvt. Ltd., a private limited company incorporated on 05.09.2005, filed an application under Section 10 of the IBC, 2016, to initiate CIRP. The company's registered office is located at No.126, Wrangler Showroom, 1st Floor, The Forum Mall, No.21, Hosur Road, Koramangala, Bangalore-560029. The company's authorized share capital is Rs.20,00,000, and its paid-up share capital is Rs.10,00,000. The company's main objects include carrying on business as dealers, distributors, processors, inventors, makers, packers, movers, stockists, agents, sub-agents, merchants, consignors, and brokers of garments, fabrics, textile, and cloth. The company had a franchise outlet of V.F. Brands India Private Limited for 'Wrangler Jeans' at Forum Mall. The franchise
…M/s. Nysa Enterprises…
Corporate Debtor issued a letter to all the…