Tata Capital Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Sustainable Outreach and Universal Leadership Soul Limited, the Corporate Debtor, due to defaults in repayment of a financial debt.
Tata Capital Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Sustainable Outreach and Universal Leadership Soul Limited, defaulted on repayment of a Channel Finance facility.
The Financial Creditor sanctioned a Channel Finance facility of Rs. 2,50,00,000/- at 10.90% p.a. for 12 months.
The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 10.02.2025.
The Financial Creditor issued a Notice for Recall of Loan and Invocation of Arbitration dated 21.02.2025.
The Financial Creditor filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, before the Hon'ble High Court at Calcutta.
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Application for Channel…
Channel Finance was sanctioned by the…
Tata Capital Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Sustainable Outreach and Universal Leadership Soul Limited, the Corporate Debtor, due to defaults in repayment of a financial debt.
Tata Capital Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Sustainable Outreach and Universal Leadership Soul Limited, defaulted on repayment of a Channel Finance facility.
The Financial Creditor sanctioned a Channel Finance facility of Rs. 2,50,00,000/- at 10.90% p.a. for 12 months.
The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 10.02.2025.
The Financial Creditor issued a Notice for Recall of Loan and Invocation of Arbitration dated 21.02.2025.
The Financial Creditor filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, before the Hon'ble High Court at Calcutta.
…Application for Channel…
Channel Finance was sanctioned by the…