Axis Bank Limited, the Financial Creditor, filed a Company Petition (CP (IB) No. 282/7/HDB/2017) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 4 of the IBC (AAA) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Sevenhills Healthcare Private Limited, the Corporate Debtor. The Corporate Debtor is in the business of healthcare services. The Corporate Debtor had requested financial assistance for setting up its hospital, leading to bilateral and consortium facilities from Axis Bank and other banks. Due to internal and external reasons, the Corporate Debtor faced financial strain, leading to liquidity issues and defaults in repayment. Axis Bank restructured the loans, but defaults persisted. The
…Axis Bank Limited, a financial creditor, filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Sevenhills Healthcare Private Limited, a corporate debtor engaged in healthcare services. The corporate debtor had availed bilateral and consortium facilities from Axis Bank and other banks for setting up its hospital. Due to financial strain, the corporate debtor defaulted on its repayment obligations. Axis Bank restructured the loans, but defaults persisted, leading to the account being classified as a Non-Performing Asset (NPA). As of October 23, 2017, the outstanding amount was Rs. 737,58,06,619.20. The corporate debtor defaulted in making repayments towards both the bilateral and consortium facilities. The corporate debtor had created
…Sign in to view the parties.
Axis Bank Limited…
Sevenhills Healthcare Private Limited…
Axis Bank Limited, the Financial Creditor, filed a Company Petition (CP (IB) No. 282/7/HDB/2017) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 4 of the IBC (AAA) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Sevenhills Healthcare Private Limited, the Corporate Debtor. The Corporate Debtor is in the business of healthcare services. The Corporate Debtor had requested financial assistance for setting up its hospital, leading to bilateral and consortium facilities from Axis Bank and other banks. Due to internal and external reasons, the Corporate Debtor faced financial strain, leading to liquidity issues and defaults in repayment. Axis Bank restructured the loans, but defaults persisted. The
…Axis Bank Limited, a financial creditor, filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against Sevenhills Healthcare Private Limited, a corporate debtor engaged in healthcare services. The corporate debtor had availed bilateral and consortium facilities from Axis Bank and other banks for setting up its hospital. Due to financial strain, the corporate debtor defaulted on its repayment obligations. Axis Bank restructured the loans, but defaults persisted, leading to the account being classified as a Non-Performing Asset (NPA). As of October 23, 2017, the outstanding amount was Rs. 737,58,06,619.20. The corporate debtor defaulted in making repayments towards both the bilateral and consortium facilities. The corporate debtor had created
…Axis Bank Limited…
Sevenhills Healthcare Private Limited…