Bell Finvest (India) Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Rang Super Shopping Private Ltd., the Corporate Debtor, alleging default in repayment of Rs. 23,82,74,067. The Financial Creditor, a Non-Banking Financial Company, had taken over a loan initially availed by the Corporate Debtor from the State Bank of India. The Corporate Debtor had also executed loan agreements and provided collateral security to the Financial Creditor. The Corporate Debtor defaulted on repayments, leading to the Financial Creditor issuing loan recall notices and filing a company petition for winding up before the High Court at Calcutta. Subsequently, the Financial Creditor filed the application under Section 7
…Bell Finvest (India) Limited, a Non-Banking Financial Company, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Rang Super Shopping Private Ltd., alleging a default of Rs. 23,82,74,067. The Corporate Debtor had initially availed a loan from State Bank of India, which was later taken over by the Financial Creditor. The Corporate Debtor provided additional collateral security to the Financial Creditor. The Corporate Debtor defaulted in repayment from 01-05-2013. The Financial Creditor issued loan recall notices and filed a company petition for winding up before the High Court at Calcutta in 2014. The Corporate Debtor confirmed the balance outstanding to the Financial Creditor on 01-04-2013. The Financial Creditor produced CIBIL
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The Financial Creditor, a Non Banking…
The Corporate Debtor availed a loan from the…
Bell Finvest (India) Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Rang Super Shopping Private Ltd., the Corporate Debtor, alleging default in repayment of Rs. 23,82,74,067. The Financial Creditor, a Non-Banking Financial Company, had taken over a loan initially availed by the Corporate Debtor from the State Bank of India. The Corporate Debtor had also executed loan agreements and provided collateral security to the Financial Creditor. The Corporate Debtor defaulted on repayments, leading to the Financial Creditor issuing loan recall notices and filing a company petition for winding up before the High Court at Calcutta. Subsequently, the Financial Creditor filed the application under Section 7
…Bell Finvest (India) Limited, a Non-Banking Financial Company, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Rang Super Shopping Private Ltd., alleging a default of Rs. 23,82,74,067. The Corporate Debtor had initially availed a loan from State Bank of India, which was later taken over by the Financial Creditor. The Corporate Debtor provided additional collateral security to the Financial Creditor. The Corporate Debtor defaulted in repayment from 01-05-2013. The Financial Creditor issued loan recall notices and filed a company petition for winding up before the High Court at Calcutta in 2014. The Corporate Debtor confirmed the balance outstanding to the Financial Creditor on 01-04-2013. The Financial Creditor produced CIBIL
…The Financial Creditor, a Non Banking…
The Corporate Debtor availed a loan from the…