The case pertains to an application filed by Bank of India, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), to initiate Corporate Insolvency Resolution Process (CIRP) against Provogue Personal Care Private Limited, the Corporate Debtor. The Corporate Debtor defaulted on repayment of credit facilities sanctioned by the Applicant. The application was admitted by the NCLT.
Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Provogue Personal Care Private Limited, the Corporate Debtor. The Corporate Debtor had been sanctioned credit facilities by the Applicant in 2013. The Corporate Debtor defaulted on repayment of ₹5,21,76,808.29. The date of commencement of default was 13.08.2015. The account of the Corporate Debtor was classified as NPA on 30.04.2018. A recall notice was sent on 29.10.2018. The Applicant submitted a Certificate of Registration of Charge dated 30.11.2013. The Corporate Debtor proposed a one-time settlement, which was not finalized. The application was filed in proper form and was
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The Applicant had sanctioned credit facilities…
Various documents about…
The case pertains to an application filed by Bank of India, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), to initiate Corporate Insolvency Resolution Process (CIRP) against Provogue Personal Care Private Limited, the Corporate Debtor. The Corporate Debtor defaulted on repayment of credit facilities sanctioned by the Applicant. The application was admitted by the NCLT.
Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Provogue Personal Care Private Limited, the Corporate Debtor. The Corporate Debtor had been sanctioned credit facilities by the Applicant in 2013. The Corporate Debtor defaulted on repayment of ₹5,21,76,808.29. The date of commencement of default was 13.08.2015. The account of the Corporate Debtor was classified as NPA on 30.04.2018. A recall notice was sent on 29.10.2018. The Applicant submitted a Certificate of Registration of Charge dated 30.11.2013. The Corporate Debtor proposed a one-time settlement, which was not finalized. The application was filed in proper form and was
…The Applicant had sanctioned credit facilities…
Various documents about…