The application was filed under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, by Byindia Creations Private Limited, the Corporate Debtor (CD). The CD was incorporated on March 24, 2013. The company's board authorized Mr. Praveen Kumar Daruka to submit the application for initiating insolvency proceedings. The CD submitted its balance sheet as of March 31, 2022. The applicant defaulted on payments to its financial creditor, Punjab National Bank (PNB), and various operational creditors. The last renewal of the credit facility was on January 2, 2020, in favor of Oriental Bank of Commerce (merged with PNB).
Byindia Creations Private Limited, the Corporate Debtor (CD), filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The CD was incorporated on March 24, 2013. The company defaulted on payments to its financial creditor, Punjab National Bank (PNB), and various operational creditors. The last renewal of the credit facility was on January 2, 2020, in favor of Oriental Bank of Commerce (merged with PNB). The outstanding amount due to the financial creditor was Rs. 230.74 lakh. The financial creditor issued demand notices on various dates, including January 4, 2021, December 15, 2021, February 16, 2022, and June 1, 2022, and declared the account as NPA on April 11, 2022.
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Byindia Creations…
The last renewal of the credit facility was in…
The application was filed under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, by Byindia Creations Private Limited, the Corporate Debtor (CD). The CD was incorporated on March 24, 2013. The company's board authorized Mr. Praveen Kumar Daruka to submit the application for initiating insolvency proceedings. The CD submitted its balance sheet as of March 31, 2022. The applicant defaulted on payments to its financial creditor, Punjab National Bank (PNB), and various operational creditors. The last renewal of the credit facility was on January 2, 2020, in favor of Oriental Bank of Commerce (merged with PNB).
Byindia Creations Private Limited, the Corporate Debtor (CD), filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The CD was incorporated on March 24, 2013. The company defaulted on payments to its financial creditor, Punjab National Bank (PNB), and various operational creditors. The last renewal of the credit facility was on January 2, 2020, in favor of Oriental Bank of Commerce (merged with PNB). The outstanding amount due to the financial creditor was Rs. 230.74 lakh. The financial creditor issued demand notices on various dates, including January 4, 2021, December 15, 2021, February 16, 2022, and June 1, 2022, and declared the account as NPA on April 11, 2022.
…Byindia Creations…
The last renewal of the credit facility was in…