The application is filed under Section 54C of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Pre-Packaged Insolvency Resolution Process) Rules, 2021, seeking initiation of Pre-Packed Insolvency Resolution Process (PPIRP) under Chapter III-A of the Code with respect to Amrit India Ltd. The Corporate Debtor is a company limited by shares, incorporated on 29.12.1981, engaged in trading & consultancy. The Corporate Debtor is under a default of financial debt to the tune of INR 12,25,000/- owed to Awadh Sharan Singh. The Corporate Debtor had sanctioned a loan facility for INR 10,00,000 on 25.03.2021.
Amrit India Ltd. filed an application under Section 54C of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Pre-Packaged Insolvency Resolution Process (PPIRP). The company, incorporated on 29.12.1981 and engaged in trading and consultancy, is registered as an MSME. It defaulted on a financial debt of INR 12,25,000 owed to Awadh Sharan Singh. A loan facility of INR 10,00,000 was sanctioned on 25.03.2021. The application was supported by a special resolution passed on 15.06.2022, approval from the non-related Financial Creditor, and consent from the appointed Insolvency Professional, Mr. Mukesh Kumar Jain. The company also declared the non-existence of avoidance transactions and confirmed eligibility under Section 29A of the Code. The application included
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Amrit India Ltd. was…
A loan facility of INR…
The application is filed under Section 54C of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Pre-Packaged Insolvency Resolution Process) Rules, 2021, seeking initiation of Pre-Packed Insolvency Resolution Process (PPIRP) under Chapter III-A of the Code with respect to Amrit India Ltd. The Corporate Debtor is a company limited by shares, incorporated on 29.12.1981, engaged in trading & consultancy. The Corporate Debtor is under a default of financial debt to the tune of INR 12,25,000/- owed to Awadh Sharan Singh. The Corporate Debtor had sanctioned a loan facility for INR 10,00,000 on 25.03.2021.
Amrit India Ltd. filed an application under Section 54C of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a Pre-Packaged Insolvency Resolution Process (PPIRP). The company, incorporated on 29.12.1981 and engaged in trading and consultancy, is registered as an MSME. It defaulted on a financial debt of INR 12,25,000 owed to Awadh Sharan Singh. A loan facility of INR 10,00,000 was sanctioned on 25.03.2021. The application was supported by a special resolution passed on 15.06.2022, approval from the non-related Financial Creditor, and consent from the appointed Insolvency Professional, Mr. Mukesh Kumar Jain. The company also declared the non-existence of avoidance transactions and confirmed eligibility under Section 29A of the Code. The application included
…Amrit India Ltd. was…
A loan facility of INR…