L&T Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raju Construction Co. & Shelters Pvt Ltd, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petitioner claimed to be a financial creditor, having disbursed loans amounting to Rs. 5,02,51,650/- to the respondent-corporate debtor under two separate loan agreements. The loan was subsequently restructured. The petitioner contended that the corporate debtor defaulted on a total amount of Rs. 1,63,30,363.21/- as of 20.12.2017, with the date of default being 09.03.2015. The petitioner proposed CA Dhiren S Shah as the Interim Resolution Professional (IRP).
L&T Financial Services Limited (the petitioner) claimed to be a financial creditor of Raju Construction Co. & Shelters Pvt Ltd (the respondent/corporate debtor). The petitioner disbursed loans amounting to Rs. 5,02,51,650/- to the respondent under two separate loan agreements dated 30.03.2013 and 04.04.2013. These loans were later restructured via a Restructured Loan Agreement dated 28.02.2015. The credit facility was secured by hypothecation of receivables and collateral security, and the respondent also signed Promissory Notes. The total amount in default as of 20.12.2017 was Rs. 1,63,30,363.21/-, with the initial date of default being 09.03.2015. The petitioner proposed CA Dhiren S Shah as the Interim Resolution Professional. The petitioner attempted to
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Raju Constructi…
One of the two separate loan agreements between…
L&T Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raju Construction Co. & Shelters Pvt Ltd, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petitioner claimed to be a financial creditor, having disbursed loans amounting to Rs. 5,02,51,650/- to the respondent-corporate debtor under two separate loan agreements. The loan was subsequently restructured. The petitioner contended that the corporate debtor defaulted on a total amount of Rs. 1,63,30,363.21/- as of 20.12.2017, with the date of default being 09.03.2015. The petitioner proposed CA Dhiren S Shah as the Interim Resolution Professional (IRP).
L&T Financial Services Limited (the petitioner) claimed to be a financial creditor of Raju Construction Co. & Shelters Pvt Ltd (the respondent/corporate debtor). The petitioner disbursed loans amounting to Rs. 5,02,51,650/- to the respondent under two separate loan agreements dated 30.03.2013 and 04.04.2013. These loans were later restructured via a Restructured Loan Agreement dated 28.02.2015. The credit facility was secured by hypothecation of receivables and collateral security, and the respondent also signed Promissory Notes. The total amount in default as of 20.12.2017 was Rs. 1,63,30,363.21/-, with the initial date of default being 09.03.2015. The petitioner proposed CA Dhiren S Shah as the Interim Resolution Professional. The petitioner attempted to
…Raju Constructi…
One of the two separate loan agreements between…