Yes Bank Limited, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against ATS Infrastructure Limited, the corporate debtor, due to alleged default on outstanding dues amounting to Rs. 7,77,48,929.08 along with applicable interest. The applicant claimed to have extended various loan facilities to the corporate debtor, including Term Loan (TL Facility), Dropline Overdraft Facility (OD Facility), and Funded Interest Term Loan (FITL Facility).
Yes Bank Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ATS Infrastructure Limited (Corporate Debtor). The application was based on the Corporate Debtor's alleged default on outstanding dues of Rs. 7,77,48,929.08/-. Yes Bank had sanctioned various facilities to ATS Infrastructure, including Term Loan (TL Facility), Dropline Overdraft Facility (OD Facility), and Funded Interest Term Loan (FITL Facility). The Corporate Debtor defaulted on these facilities, with the first default occurring on 05.07.2022 for the TL Facility and 01.10.2021 for the OD Facility. ATS Infrastructure denied the allegations, claiming the sum was not a financial debt
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Sanction Letter Ref.…
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Yes Bank Limited, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against ATS Infrastructure Limited, the corporate debtor, due to alleged default on outstanding dues amounting to Rs. 7,77,48,929.08 along with applicable interest. The applicant claimed to have extended various loan facilities to the corporate debtor, including Term Loan (TL Facility), Dropline Overdraft Facility (OD Facility), and Funded Interest Term Loan (FITL Facility).
Yes Bank Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against ATS Infrastructure Limited (Corporate Debtor). The application was based on the Corporate Debtor's alleged default on outstanding dues of Rs. 7,77,48,929.08/-. Yes Bank had sanctioned various facilities to ATS Infrastructure, including Term Loan (TL Facility), Dropline Overdraft Facility (OD Facility), and Funded Interest Term Loan (FITL Facility). The Corporate Debtor defaulted on these facilities, with the first default occurring on 05.07.2022 for the TL Facility and 01.10.2021 for the OD Facility. ATS Infrastructure denied the allegations, claiming the sum was not a financial debt
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