The case involves a Company Petition filed under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Oriental Bank of Commerce (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Perfect Industries Private Limited (Corporate Debtor). The Corporate Debtor is a private company incorporated on 18.02.2011. The petition was filed on 25.07.2019 before the Adjudicating Authority because the Corporate Debtor failed to pay ₹6,19,00,000.00 as principal and ₹2,09,24,101.79 as interest as on 31.08.2016.
Oriental Bank of Commerce, the Financial Creditor, filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Perfect Industries Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 18.02.2011. The petition was filed on 25.07.2019 because the Corporate Debtor failed to make payment of ₹6,19,00,000.00 as principal and ₹2,09,24,101.79 as interest as on 31.08.2016. The Financial Creditor had extended various credit facilities to the Corporate Debtor, including a cash credit facility of Rs.32.00 lakh, a Term Loan facility of Rs.2.03 crore, a Working Capital Term Loan of Rs.2.68 crore, a Funded Interest Term Loan (FITL) of Rs.40.00 lakh, and FITL-2 of
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Perfect Industries…
Financial Creditor…
The case involves a Company Petition filed under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Oriental Bank of Commerce (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Perfect Industries Private Limited (Corporate Debtor). The Corporate Debtor is a private company incorporated on 18.02.2011. The petition was filed on 25.07.2019 before the Adjudicating Authority because the Corporate Debtor failed to pay ₹6,19,00,000.00 as principal and ₹2,09,24,101.79 as interest as on 31.08.2016.
Oriental Bank of Commerce, the Financial Creditor, filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Perfect Industries Private Limited, the Corporate Debtor. The Corporate Debtor was incorporated on 18.02.2011. The petition was filed on 25.07.2019 because the Corporate Debtor failed to make payment of ₹6,19,00,000.00 as principal and ₹2,09,24,101.79 as interest as on 31.08.2016. The Financial Creditor had extended various credit facilities to the Corporate Debtor, including a cash credit facility of Rs.32.00 lakh, a Term Loan facility of Rs.2.03 crore, a Working Capital Term Loan of Rs.2.68 crore, a Funded Interest Term Loan (FITL) of Rs.40.00 lakh, and FITL-2 of
…Perfect Industries…
Financial Creditor…