United Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/S Prithvi Multipurpose Cold Storage Private Limited, claiming to be a Financial Creditor. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in repayment of loan amount by the Corporate Debtor. The Corporate Debtor had availed various credit facilities amounting to Rs. 6,47,96,000, and the loan was to be repaid in quarterly installments. The Corporate Debtor's account was classified as NPA on 16.08.2017, and the applicant issued a demand notice under Section 13(2) of SARFAESI Act, 2002. The applicant proceeded under Section 13(4) of SARFAESI Act, 2002 and took symbolic possession of the subject
…United Bank of India (the Applicant) claimed to be a Financial Creditor of M/S Prithvi Multipurpose Cold Storage Private Limited (the Corporate Debtor). The Applicant filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in repayment of loan amount. The Corporate Debtor had availed various credit facilities amounting to Rs. 6,47,96,000, vide Sanction Letter dated 03.08.2013, and had entered into various Loan Agreements all dated 03.08.2013. The loan was to be repaid in 32 quarterly installments of Rs. 16,44,000/- each starting from June 2015 quarter and ending on March 2023. The Corporate Debtor's account was classified
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Power of Attorney dated 16.04.2008…
Sanction Letter dated 03.08.2013 and various…
United Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/S Prithvi Multipurpose Cold Storage Private Limited, claiming to be a Financial Creditor. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in repayment of loan amount by the Corporate Debtor. The Corporate Debtor had availed various credit facilities amounting to Rs. 6,47,96,000, and the loan was to be repaid in quarterly installments. The Corporate Debtor's account was classified as NPA on 16.08.2017, and the applicant issued a demand notice under Section 13(2) of SARFAESI Act, 2002. The applicant proceeded under Section 13(4) of SARFAESI Act, 2002 and took symbolic possession of the subject
…United Bank of India (the Applicant) claimed to be a Financial Creditor of M/S Prithvi Multipurpose Cold Storage Private Limited (the Corporate Debtor). The Applicant filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in repayment of loan amount. The Corporate Debtor had availed various credit facilities amounting to Rs. 6,47,96,000, vide Sanction Letter dated 03.08.2013, and had entered into various Loan Agreements all dated 03.08.2013. The loan was to be repaid in 32 quarterly installments of Rs. 16,44,000/- each starting from June 2015 quarter and ending on March 2023. The Corporate Debtor's account was classified
…Power of Attorney dated 16.04.2008…
Sanction Letter dated 03.08.2013 and various…