The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by City Union Bank Limited, the Financial Creditor, against Amritpur Tea Company Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor was incorporated on January 10, 1913. The Financial Creditor claimed a default of Rs. 12,60,90,830 as of September 01, 2022, with the date of default being the date of classifying the account as Non-Performing Asset (NPA), i.e., December 31, 2019.
City Union Bank Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Amritpur Tea Company Limited, the Corporate Debtor. The Corporate Debtor was incorporated on January 10, 1913. The Financial Creditor claimed that the Corporate Debtor defaulted on a debt of Rs. 12,60,90,830 as of September 01, 2022. The date of default was classified as December 31, 2019, when the loan account was declared NPA. The Financial Creditor had sanctioned and disbursed Rs. 12,20,00,000 to the Corporate Debtor over time. The Corporate Debtor executed various loan and security documents, including mortgages and hypothecation agreements, to secure the credit facilities. The Corporate Debtor failed to appear before the
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Amritpur Tea…
OSL- Terms EMI Loan A/c No.: 501812080011182…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by City Union Bank Limited, the Financial Creditor, against Amritpur Tea Company Limited, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor was incorporated on January 10, 1913. The Financial Creditor claimed a default of Rs. 12,60,90,830 as of September 01, 2022, with the date of default being the date of classifying the account as Non-Performing Asset (NPA), i.e., December 31, 2019.
City Union Bank Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Amritpur Tea Company Limited, the Corporate Debtor. The Corporate Debtor was incorporated on January 10, 1913. The Financial Creditor claimed that the Corporate Debtor defaulted on a debt of Rs. 12,60,90,830 as of September 01, 2022. The date of default was classified as December 31, 2019, when the loan account was declared NPA. The Financial Creditor had sanctioned and disbursed Rs. 12,20,00,000 to the Corporate Debtor over time. The Corporate Debtor executed various loan and security documents, including mortgages and hypothecation agreements, to secure the credit facilities. The Corporate Debtor failed to appear before the
…Amritpur Tea…
OSL- Terms EMI Loan A/c No.: 501812080011182…