Indian Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ansal Properties and Infrastructure Limited. The bank claimed a default amount of Rs. 2,01,78,08,222.25 along with interest. The Respondent, Ansal Properties and Infrastructure Limited, is a company incorporated on 30.06.1967. The bank had sanctioned a term loan of Rs. 150 Crore to the Respondent on 10.09.2013 for the Serene Residency Group Housing Project at Sector ETA II, Greater Noida.
Indian Bank, the Applicant/Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Ansal Properties and Infrastructure Limited, the Respondent. The Applicant seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the Respondent due to a default amount of Rs. 2,01,78,08,222.25 along with interest. The Respondent is a company incorporated on 30.06.1967. The Applicant had sanctioned a term loan of Rs. 150 Crore to the Respondent on 10.09.2013 for the Serene Residency Group Housing Project at Sector ETA II, Greater Noida. The Adjudicating Authority is aware of a prior CIRP against the Respondent and a moratorium under Section 14 of the Code. The NCLAT has confined the Section 7 application to the
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Ansal Propert…
Indian Bank sanctioned a Term Loan of Rs.150…
Indian Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Ansal Properties and Infrastructure Limited. The bank claimed a default amount of Rs. 2,01,78,08,222.25 along with interest. The Respondent, Ansal Properties and Infrastructure Limited, is a company incorporated on 30.06.1967. The bank had sanctioned a term loan of Rs. 150 Crore to the Respondent on 10.09.2013 for the Serene Residency Group Housing Project at Sector ETA II, Greater Noida.
Indian Bank, the Applicant/Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Ansal Properties and Infrastructure Limited, the Respondent. The Applicant seeks to initiate the Corporate Insolvency Resolution Process (CIRP) against the Respondent due to a default amount of Rs. 2,01,78,08,222.25 along with interest. The Respondent is a company incorporated on 30.06.1967. The Applicant had sanctioned a term loan of Rs. 150 Crore to the Respondent on 10.09.2013 for the Serene Residency Group Housing Project at Sector ETA II, Greater Noida. The Adjudicating Authority is aware of a prior CIRP against the Respondent and a moratorium under Section 14 of the Code. The NCLAT has confined the Section 7 application to the
…Ansal Propert…
Indian Bank sanctioned a Term Loan of Rs.150…