The case involves a Company Petition filed by Stressed Assets Stabilisation Fund under Section 7 of the IBC, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against Shree Vindhya Paper Mills Ltd due to non-payment of a financial debt amounting to Rs. 195,05,25,359. The debt comprises principal amounts of credit facilities, interest, and expenses related to loan recovery, which were due as of April 1, 2018. The Financial Creditor granted debt to the Corporate Debtor through Term Loan Facility I and Term Loan Facility II between 1993 and 1997. The Corporate Debtor defaulted on payments, leading to the petition.
The Stressed Assets Stabilisation Fund filed a Company Petition under Section 7 of the IBC, 2016, to initiate CIRP against Shree Vindhya Paper Mills Ltd for non-payment of a financial debt of Rs. 195,05,25,359, which was due as of April 1, 2018. The debt comprised principal amounts of credit facilities, interest, and expenses related to loan recovery. The Financial Creditor had granted debt to the Corporate Debtor through Term Loan Facility I (Rs. 8,05,10,213) and Term Loan Facility II (Rs. 6,02,10,000) between 1993 and 1997. The Corporate Debtor defaulted on payments, leading to the petition. The Financial Creditor is a Trust set up by the Government of India. The Corporate Debtor's account was categorized as a Non-Performing Asset (NPA) on May 1, 1999. The Corporate
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Term Loan Facility I and Term Loan Facility II…
The account of the…
The case involves a Company Petition filed by Stressed Assets Stabilisation Fund under Section 7 of the IBC, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against Shree Vindhya Paper Mills Ltd due to non-payment of a financial debt amounting to Rs. 195,05,25,359. The debt comprises principal amounts of credit facilities, interest, and expenses related to loan recovery, which were due as of April 1, 2018. The Financial Creditor granted debt to the Corporate Debtor through Term Loan Facility I and Term Loan Facility II between 1993 and 1997. The Corporate Debtor defaulted on payments, leading to the petition.
The Stressed Assets Stabilisation Fund filed a Company Petition under Section 7 of the IBC, 2016, to initiate CIRP against Shree Vindhya Paper Mills Ltd for non-payment of a financial debt of Rs. 195,05,25,359, which was due as of April 1, 2018. The debt comprised principal amounts of credit facilities, interest, and expenses related to loan recovery. The Financial Creditor had granted debt to the Corporate Debtor through Term Loan Facility I (Rs. 8,05,10,213) and Term Loan Facility II (Rs. 6,02,10,000) between 1993 and 1997. The Corporate Debtor defaulted on payments, leading to the petition. The Financial Creditor is a Trust set up by the Government of India. The Corporate Debtor's account was categorized as a Non-Performing Asset (NPA) on May 1, 1999. The Corporate
…Term Loan Facility I and Term Loan Facility II…
The account of the…