Union Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raa International Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The allegation was that the Corporate Debtor had defaulted in repayment of debt amounting to Rs. 11,30,000,00/-. The Corporate Debtor had availed various credit facilities from the Financial Creditor. The account of the Corporate Debtor was declared as NPA on 31.03.2015.
Union Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raa International Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had availed various credit facilities from the Financial Creditor. The Corporate Debtor defaulted in repayment of debt amounting to Rs. 11,21,47,924.18. The account of the Corporate Debtor was declared as NPA on 31.03.2015. The Financial Creditor sent a demand notice dated 02.06.2015 to the Corporate Debtor demanding repayment of the debt along with interest. The Corporate Debtor failed to repay the default amount due to the Financial Creditor despite demand. The application was filed on 06.03.2019, which
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Union Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raa International Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The allegation was that the Corporate Debtor had defaulted in repayment of debt amounting to Rs. 11,30,000,00/-. The Corporate Debtor had availed various credit facilities from the Financial Creditor. The account of the Corporate Debtor was declared as NPA on 31.03.2015.
Union Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raa International Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had availed various credit facilities from the Financial Creditor. The Corporate Debtor defaulted in repayment of debt amounting to Rs. 11,21,47,924.18. The account of the Corporate Debtor was declared as NPA on 31.03.2015. The Financial Creditor sent a demand notice dated 02.06.2015 to the Corporate Debtor demanding repayment of the debt along with interest. The Corporate Debtor failed to repay the default amount due to the Financial Creditor despite demand. The application was filed on 06.03.2019, which
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