Kotak Mahindra Bank Limited filed C.P. (IB) No.257/BB/2019 under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against SA Rawther Spices Pvt. Ltd. The petition was based on the corporate debtor's alleged default of Rs.7,72,85,752.37 as on 09.05.2019 and individual loan default as on 09.05.2019 is Rs.1,49,86,052.30. The case was listed for admission on multiple dates and adjourned due to requests from the parties.
Kotak Mahindra Bank Limited filed a petition (C.P. (IB) No.257/BB/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against SA Rawther Spices Pvt. Ltd., seeking to initiate CIRP. The basis for the petition was a claimed default of Rs.7,72,85,752.37 as on 09.05.2019 and individual loan default as on 09.05.2019 is Rs.1,49,86,052.30. Prior to this petition, C.P. (IB) No.159/BB/2019 had already been admitted against the same Corporate Debtor, initiating CIRP and appointing Ms.Subramaniam Aneetha as the Interim Resolution Professional (IRP). The Adjudicating Authority considered the fact that CIRP had already been initiated against the Corporate Debtor.
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SA Rawther Spices Pvt. Ltd. defaulted on a…
The case was li…
Kotak Mahindra Bank Limited filed C.P. (IB) No.257/BB/2019 under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against SA Rawther Spices Pvt. Ltd. The petition was based on the corporate debtor's alleged default of Rs.7,72,85,752.37 as on 09.05.2019 and individual loan default as on 09.05.2019 is Rs.1,49,86,052.30. The case was listed for admission on multiple dates and adjourned due to requests from the parties.
Kotak Mahindra Bank Limited filed a petition (C.P. (IB) No.257/BB/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against SA Rawther Spices Pvt. Ltd., seeking to initiate CIRP. The basis for the petition was a claimed default of Rs.7,72,85,752.37 as on 09.05.2019 and individual loan default as on 09.05.2019 is Rs.1,49,86,052.30. Prior to this petition, C.P. (IB) No.159/BB/2019 had already been admitted against the same Corporate Debtor, initiating CIRP and appointing Ms.Subramaniam Aneetha as the Interim Resolution Professional (IRP). The Adjudicating Authority considered the fact that CIRP had already been initiated against the Corporate Debtor.
SA Rawther Spices Pvt. Ltd. defaulted on a…
The case was li…