Tata Capital Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Luckshmi Yarn Impex Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition was based on a financial debt of Rs.1,45,40,911.61/-, with the date of default stated as 10.04.2025. The Corporate Debtor had availed a term loan of Rs.1,50,00,000/- from the Petitioner, which was sanctioned on 17.05.2024 and formalized through an agreement on 24.05.2024. The loan was guaranteed by Sunil Sharma, Mangala Sharma, and Swati Sharma, and secured by a mortgage from Gopal Sharma.
Tata Capital Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of IBC, 2016, against Luckshmi Yarn Impex Private Limited (Respondent/Corporate Debtor).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP).
Luckshmi Yarn Impex Private Limited was incorporated on 28.12.2020 with an Authorised and Paid-up Share Capital of Rs.5,00,00,000/-.
The financial debt claimed by the Petitioner is Rs.1,45,40,911.61/-.
The date of default is stated as 10.04.2025.
The petition was filed on 15.10.2025.
The Petitioner sanctioned a term loan of Rs.1,50,00,000/- to the Corporate Debtor vide sanction letter dated 17.05.2024.
A term loan agreement was entered into on 24.05.2024 between the Corporate Debtor and the Petitioner.
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Luckshmi Yarn Impex…
The Corporate Debtor and guarantors executed…
Tata Capital Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Luckshmi Yarn Impex Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The petition was based on a financial debt of Rs.1,45,40,911.61/-, with the date of default stated as 10.04.2025. The Corporate Debtor had availed a term loan of Rs.1,50,00,000/- from the Petitioner, which was sanctioned on 17.05.2024 and formalized through an agreement on 24.05.2024. The loan was guaranteed by Sunil Sharma, Mangala Sharma, and Swati Sharma, and secured by a mortgage from Gopal Sharma.
Tata Capital Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of IBC, 2016, against Luckshmi Yarn Impex Private Limited (Respondent/Corporate Debtor).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP).
Luckshmi Yarn Impex Private Limited was incorporated on 28.12.2020 with an Authorised and Paid-up Share Capital of Rs.5,00,00,000/-.
The financial debt claimed by the Petitioner is Rs.1,45,40,911.61/-.
The date of default is stated as 10.04.2025.
The petition was filed on 15.10.2025.
The Petitioner sanctioned a term loan of Rs.1,50,00,000/- to the Corporate Debtor vide sanction letter dated 17.05.2024.
A term loan agreement was entered into on 24.05.2024 between the Corporate Debtor and the Petitioner.
…Luckshmi Yarn Impex…
The Corporate Debtor and guarantors executed…