Piramal Enterprises Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Sunrise Naturopathy and Resorts Private Limited, the Corporate Debtor. The application pertains to a financial debt arising from a guarantee provided by the Corporate Debtor for a loan facility extended to All India Society for Advance Education and Research (Original Borrower). The Financial Creditor claims that the Corporate Debtor defaulted on its guarantee obligations.
Piramal Enterprises Limited ('Financial Creditor') filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sunrise Naturopathy and Resorts Private Limited ('Corporate Debtor'). The Corporate Debtor acted as a guarantor for a loan facility of Rs. 38,00,00,000/- granted by the Financial Creditor to All India Society for Advance Education and Research ('Original Borrower'). The loan was disbursed in two tranches on 28th October 2013 (Rs. 31,17,00,000) and 1st November 2013 (Rs. 6,83,00,000). The Corporate Debtor guaranteed the repayment of the said debt under a Deed of Guarantee dated 18th October 2013. The Original Borrower defaulted on the loan, with the default date being 30th
…Sign in to view the parties.
The 'financial…
Sunrise Naturopathy and…
Piramal Enterprises Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Sunrise Naturopathy and Resorts Private Limited, the Corporate Debtor. The application pertains to a financial debt arising from a guarantee provided by the Corporate Debtor for a loan facility extended to All India Society for Advance Education and Research (Original Borrower). The Financial Creditor claims that the Corporate Debtor defaulted on its guarantee obligations.
Piramal Enterprises Limited ('Financial Creditor') filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sunrise Naturopathy and Resorts Private Limited ('Corporate Debtor'). The Corporate Debtor acted as a guarantor for a loan facility of Rs. 38,00,00,000/- granted by the Financial Creditor to All India Society for Advance Education and Research ('Original Borrower'). The loan was disbursed in two tranches on 28th October 2013 (Rs. 31,17,00,000) and 1st November 2013 (Rs. 6,83,00,000). The Corporate Debtor guaranteed the repayment of the said debt under a Deed of Guarantee dated 18th October 2013. The Original Borrower defaulted on the loan, with the default date being 30th
…The 'financial…
Sunrise Naturopathy and…