SREI Equipment Finance Limited filed a Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against AMW Commercial Vehicle Applications Limited. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudication Authority) Rules, 2016, for an unresolved financial debt of Rs. 292,79,60,204 as of 30.09.2020. The petitioner and the corporate debtor entered into 4 Loan Agreements wherein the Corporate Debtor borrowed loans on terms and conditions. The dates of disbursement for the Term Loan Facility granted of Rs. 16621,00,000 are provided.
SREI Equipment Finance Limited (the Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against AMW Commercial Vehicle Applications Limited (the Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was based on an unresolved financial debt of Rs. 292,79,60,204 as of 30.09.2020. The Petitioner and the Corporate Debtor had entered into four loan agreements, with a total disbursement of Rs. 16621,00,000. The Petitioner provided documents including loan agreements, pledge agreements, mortgage deeds, personal guarantees, hypothecation deeds, corporate guarantees, charge registration certificates, rupee loan agreements, a CIBIL report, and statements of accounts. A demand notice was issued to the
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The Petitioner issued a demand notice to the…
SREI Equipment Finance Limited filed a Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against AMW Commercial Vehicle Applications Limited. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudication Authority) Rules, 2016, for an unresolved financial debt of Rs. 292,79,60,204 as of 30.09.2020. The petitioner and the corporate debtor entered into 4 Loan Agreements wherein the Corporate Debtor borrowed loans on terms and conditions. The dates of disbursement for the Term Loan Facility granted of Rs. 16621,00,000 are provided.
SREI Equipment Finance Limited (the Petitioner) filed a petition to initiate Corporate Insolvency Resolution Process (CIRP) against AMW Commercial Vehicle Applications Limited (the Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was based on an unresolved financial debt of Rs. 292,79,60,204 as of 30.09.2020. The Petitioner and the Corporate Debtor had entered into four loan agreements, with a total disbursement of Rs. 16621,00,000. The Petitioner provided documents including loan agreements, pledge agreements, mortgage deeds, personal guarantees, hypothecation deeds, corporate guarantees, charge registration certificates, rupee loan agreements, a CIBIL report, and statements of accounts. A demand notice was issued to the
…The outstanding…
The Petitioner issued a demand notice to the…