The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Vikas Prakash Gupta, the Resolution Professional of Man Tubinox Limited, against Basant Marketing Limited, the Corporate Debtor. The petition seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against Basant Marketing Limited based on trade receivables amounting to Rs. 27,83,20,000 arising from the issuance of bonds by the Corporate Debtor to Man Tubinox Limited. The petition was filed on August 14, 2020.
Vikas Prakash Gupta, the Resolution Professional of Man Tubinox Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Basant Marketing Limited, the Corporate Debtor. The claim is based on trade receivables of Rs. 27,83,20,000 arising from bonds issued by Basant Marketing Limited to Man Tubinox Limited. The petition was filed on August 14, 2020. The Corporate Debtor's authorized share capital is Rs. 20,00,00,000, with a paid-up capital of Rs. 13,64,68,230. The Financial Creditor is undergoing CIRP as per an order dated June 12, 2019, by the Mumbai Bench of the NCLT. The Resolution Professional observed receivables from the Corporate Debtor during the CIRP. The
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The case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Vikas Prakash Gupta, the Resolution Professional of Man Tubinox Limited, against Basant Marketing Limited, the Corporate Debtor. The petition seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against Basant Marketing Limited based on trade receivables amounting to Rs. 27,83,20,000 arising from the issuance of bonds by the Corporate Debtor to Man Tubinox Limited. The petition was filed on August 14, 2020.
Vikas Prakash Gupta, the Resolution Professional of Man Tubinox Limited, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Basant Marketing Limited, the Corporate Debtor. The claim is based on trade receivables of Rs. 27,83,20,000 arising from bonds issued by Basant Marketing Limited to Man Tubinox Limited. The petition was filed on August 14, 2020. The Corporate Debtor's authorized share capital is Rs. 20,00,00,000, with a paid-up capital of Rs. 13,64,68,230. The Financial Creditor is undergoing CIRP as per an order dated June 12, 2019, by the Mumbai Bench of the NCLT. The Resolution Professional observed receivables from the Corporate Debtor during the CIRP. The
…The present Petition…
The date of default is…