Corporation Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tasgaonkar Blossom Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed on 24.04.2019, claiming a total default of ₹18,24,72,433/- as of 31.03.2019. The financial assistance was provided by Corporation Bank to Tasgaonkar Blossom Private Limited in the form of loans.
Corporation Bank, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tasgaonkar Blossom Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed on 24.04.2019, claiming a total default of ₹18,24,72,433/- as of 31.03.2019. The financial assistance was provided by Corporation Bank to Tasgaonkar Blossom Private Limited in the form of Funded Interest Term Loan (FTIL) and Agricultural Term Loan (ATL). The petitioner disbursed ₹57,61,422/- as FTIL and ₹9,68,35,170/- as ATL. The loans were disbursed as per the sanction letters dated 24.12.2011 and 28.06.2014. The petitioner and the corporate debtor executed various deeds and documents related to the
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Reference to the Banking Companies (Acquisitions…
Date of the Sanction Letter for the loan…
Corporation Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tasgaonkar Blossom Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed on 24.04.2019, claiming a total default of ₹18,24,72,433/- as of 31.03.2019. The financial assistance was provided by Corporation Bank to Tasgaonkar Blossom Private Limited in the form of loans.
Corporation Bank, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tasgaonkar Blossom Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed on 24.04.2019, claiming a total default of ₹18,24,72,433/- as of 31.03.2019. The financial assistance was provided by Corporation Bank to Tasgaonkar Blossom Private Limited in the form of Funded Interest Term Loan (FTIL) and Agricultural Term Loan (ATL). The petitioner disbursed ₹57,61,422/- as FTIL and ₹9,68,35,170/- as ATL. The loans were disbursed as per the sanction letters dated 24.12.2011 and 28.06.2014. The petitioner and the corporate debtor executed various deeds and documents related to the
…Reference to the Banking Companies (Acquisitions…
Date of the Sanction Letter for the loan…