The Financial Creditor, Central Bank of India, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Syntex Trading & Agency Private Limited, the Corporate Debtor, due to default in repayment of financial debt.
Central Bank of India, the Financial Creditor, sanctioned term loans of Rs. 125.00 crore and Rs. 187.50 crore to Anjana Retail Infrastructure Private Limited (ARIPL) and RJ Texcot Private Limited (RJTPL) via sanction letters dated March 24, 2015, and December 5, 2016, respectively. Term Loan Agreements were executed on March 27, 2015, and December 14, 2016. Subsequently, ARIPL and RJTPL merged with Syntex Trading & Agency Private Limited, the Corporate Debtor, by an NCLT order dated August 2, 2018. The Financial Creditor's Managing Committee approved this amalgamation on September 23, 2019, and permitted consolidated sanctioned limits for Syntex Trading & Agency Private Limited.
…Central Bank of India's Board Resolution…
Financial Creditor sanctioned Term Loan…
Sign in to view related legal provisions.
The Financial Creditor, Central Bank of India, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Syntex Trading & Agency Private Limited, the Corporate Debtor, due to default in repayment of financial debt.
Central Bank of India, the Financial Creditor, sanctioned term loans of Rs. 125.00 crore and Rs. 187.50 crore to Anjana Retail Infrastructure Private Limited (ARIPL) and RJ Texcot Private Limited (RJTPL) via sanction letters dated March 24, 2015, and December 5, 2016, respectively. Term Loan Agreements were executed on March 27, 2015, and December 14, 2016. Subsequently, ARIPL and RJTPL merged with Syntex Trading & Agency Private Limited, the Corporate Debtor, by an NCLT order dated August 2, 2018. The Financial Creditor's Managing Committee approved this amalgamation on September 23, 2019, and permitted consolidated sanctioned limits for Syntex Trading & Agency Private Limited.
…Central Bank of India's Board Resolution…
Financial Creditor sanctioned Term Loan…
Sign in to view related legal provisions.