Dena Bank filed a petition against Om Shiv Hydro Power and Constructions Pvt. Ltd. for initiating Corporate Insolvency Resolution Process (CIRP). The petition was filed based on the corporate debtor's default in loan repayment, amounting to ₹7,00,72,142 as of 31.12.2017. The loan was initially sanctioned in 2013 and restructured in 2015. Dena Bank had also issued a SARFAESI notice to the Corporate Debtor.
Dena Bank extended credit facilities to Om Shiv Hydro Power and Constructions Pvt. Ltd. The Corporate Debtor defaulted on loan repayments, with outstanding dues of ₹7,00,72,142 as of 31.12.2017. The loan was initially sanctioned in 2013 and subsequently restructured in 2015. Dena Bank converted the existing CC Hypo limit of 500 lakhs to Working Capital Demand loan with the reduction of ₹5 lakhs to ₹495 lakhs vide sanction letter dated 9.3.2015. The Corporate Debtor acknowledged the sanction of conversion of existing CC Hypo limit of ₹500 lakhs to Working capital Demand Loan with reduction of ₹5 lakhs to ₹495 lakhs, executed letter of guarantee dated 31.3.2015, executed Mortgage Deed on 31.3.2015, Registered the Modification of Charge with ROC on 9.4.2015, executed an
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Initial loan was…
The Petitioner vide sanction letter dated…
Dena Bank filed a petition against Om Shiv Hydro Power and Constructions Pvt. Ltd. for initiating Corporate Insolvency Resolution Process (CIRP). The petition was filed based on the corporate debtor's default in loan repayment, amounting to ₹7,00,72,142 as of 31.12.2017. The loan was initially sanctioned in 2013 and restructured in 2015. Dena Bank had also issued a SARFAESI notice to the Corporate Debtor.
Dena Bank extended credit facilities to Om Shiv Hydro Power and Constructions Pvt. Ltd. The Corporate Debtor defaulted on loan repayments, with outstanding dues of ₹7,00,72,142 as of 31.12.2017. The loan was initially sanctioned in 2013 and subsequently restructured in 2015. Dena Bank converted the existing CC Hypo limit of 500 lakhs to Working Capital Demand loan with the reduction of ₹5 lakhs to ₹495 lakhs vide sanction letter dated 9.3.2015. The Corporate Debtor acknowledged the sanction of conversion of existing CC Hypo limit of ₹500 lakhs to Working capital Demand Loan with reduction of ₹5 lakhs to ₹495 lakhs, executed letter of guarantee dated 31.3.2015, executed Mortgage Deed on 31.3.2015, Registered the Modification of Charge with ROC on 9.4.2015, executed an
…Initial loan was…
The Petitioner vide sanction letter dated…