The case involves an application filed by Union Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Raihan Healthcare Private Limited. Union Bank of India, the financial creditor, claimed that Raihan Healthcare Private Limited, the corporate debtor, defaulted on a financial debt. The financial creditor furnished Form No. 1 under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Union Bank of India, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raihan Healthcare Private Limited, the corporate debtor. The financial creditor claimed a default of ₹34,68,44,480 out of a total debt of ₹47.08 crores. The date of default was stated as 23.10.2018. The corporate debtor had availed various credit facilities since June 2016. The financial creditor submitted documents including a general term loan agreement, letter of continuity/guarantee, letter sanctioning additional credit limit, debit balance confirmation letters, and legal notices. The corporate debtor acknowledged credit facilities availed from Creditor Bank, contended that the statement of accounts shown was not correct and to
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The Date of De…
The case involves an application filed by Union Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Raihan Healthcare Private Limited. Union Bank of India, the financial creditor, claimed that Raihan Healthcare Private Limited, the corporate debtor, defaulted on a financial debt. The financial creditor furnished Form No. 1 under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Union Bank of India, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raihan Healthcare Private Limited, the corporate debtor. The financial creditor claimed a default of ₹34,68,44,480 out of a total debt of ₹47.08 crores. The date of default was stated as 23.10.2018. The corporate debtor had availed various credit facilities since June 2016. The financial creditor submitted documents including a general term loan agreement, letter of continuity/guarantee, letter sanctioning additional credit limit, debit balance confirmation letters, and legal notices. The corporate debtor acknowledged credit facilities availed from Creditor Bank, contended that the statement of accounts shown was not correct and to
…The Corporate Debtor…
The Date of De…