Shriram Finance Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Karthik Travels Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged that the Corporate Debtor defaulted on financial facilities, including 39 vehicle loans and two term loans, sanctioned in 2018. The total financial debt claimed was Rs. 9,26,14,822/- as of May 19, 2023, with the amount in default being Rs. 23,54,74,793/- as of the same date. The petition was filed on August 14, 2023.
…Shriram Finance Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Karthik Travels Private Limited, the Corporate Debtor. The petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to alleged defaults on financial facilities. The Financial Creditor, an NBFC incorporated under the Companies Act, 1956, sanctioned 39 vehicle loans and two term loans to the Corporate Debtor in 2018 for its business operations.
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Financial Creditor…
Financial Creditor…
Shriram Finance Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Karthik Travels Private Limited, the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged that the Corporate Debtor defaulted on financial facilities, including 39 vehicle loans and two term loans, sanctioned in 2018. The total financial debt claimed was Rs. 9,26,14,822/- as of May 19, 2023, with the amount in default being Rs. 23,54,74,793/- as of the same date. The petition was filed on August 14, 2023.
…Shriram Finance Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Karthik Travels Private Limited, the Corporate Debtor. The petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to alleged defaults on financial facilities. The Financial Creditor, an NBFC incorporated under the Companies Act, 1956, sanctioned 39 vehicle loans and two term loans to the Corporate Debtor in 2018 for its business operations.
…In the matter of Ramesh Kymal Vs. M/s Siemens Gamesa Renewable Power…
Financial Creditor…
Financial Creditor…