SREI Infrastructure Finance Limited, the Financial Creditor, filed an application under Sections 55-58 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017, against Right Towers Private Limited, the Corporate Debtor. The application was filed before the National Company Law Tribunal, Kolkata Bench, seeking initiation of the Corporate Resolution Process.
SREI Infrastructure Finance Limited (Financial Creditor/Applicant) filed an application against Right Towers Private Limited (Corporate Debtor) under Sections 55-58 of the Insolvency & Bankruptcy Code, 2016. The Financial Creditor is a company incorporated on 29th March, 1985. The Corporate Debtor is a company incorporated on 18th September, 2007, with a nominal share capital of Rs. 5,00,000/- and a paid-up share capital of Rs. 1,00,000/-. The Financial Creditor sanctioned a loan of Rs. 110,00,00,000/- to the Corporate Debtor. A sanction letter was issued on 15th December, 2015, and a loan agreement was executed on 11th January, 2016. The Corporate Debtor defaulted in making payments, with a sum of Rs. 81,03,70,422/- due, including Rs. 74,43,93,524/- as principal
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Sanction Letter issued…
Loan Agreement executed…
SREI Infrastructure Finance Limited, the Financial Creditor, filed an application under Sections 55-58 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017, against Right Towers Private Limited, the Corporate Debtor. The application was filed before the National Company Law Tribunal, Kolkata Bench, seeking initiation of the Corporate Resolution Process.
SREI Infrastructure Finance Limited (Financial Creditor/Applicant) filed an application against Right Towers Private Limited (Corporate Debtor) under Sections 55-58 of the Insolvency & Bankruptcy Code, 2016. The Financial Creditor is a company incorporated on 29th March, 1985. The Corporate Debtor is a company incorporated on 18th September, 2007, with a nominal share capital of Rs. 5,00,000/- and a paid-up share capital of Rs. 1,00,000/-. The Financial Creditor sanctioned a loan of Rs. 110,00,00,000/- to the Corporate Debtor. A sanction letter was issued on 15th December, 2015, and a loan agreement was executed on 11th January, 2016. The Corporate Debtor defaulted in making payments, with a sum of Rs. 81,03,70,422/- due, including Rs. 74,43,93,524/- as principal
…Sanction Letter issued…
Loan Agreement executed…