The case involves an application filed by Piramal Capital & Housing Finance Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Camel Shelters Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claims a debt of Rs. 75,00,52,572/-. The Corporate Debtor, along with other co-borrowers, had availed a loan facility from the Financial Creditor, and a default occurred. The Financial Creditor seeks to initiate CIRP due to the Corporate Debtor's failure to repay the outstanding loan amount.
Piramal Capital & Housing Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Camel Shelters Private Limited (Corporate Debtor). The application was filed on 26.05.2022. The Financial Creditor claimed a total outstanding debt of Rs. 75,00,52,572/- as of 31.03.2022, comprising principal (Rs. 17,79,06,000/-) and interest (Rs. 57,21,26,472/-). The Corporate Debtor, along with 19 other associate companies, had requested financial assistance towards a mortgage loan. The Financial Creditor sanctioned a loan of Rs. 20,00,00,000/- jointly to the Corporate Debtor and co-borrowers on 26.09.2014. The loan was secured by a joint mortgage of
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Financial Creditor sanctioned a loan of Rs.…
The loan account was…
The case involves an application filed by Piramal Capital & Housing Finance Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Camel Shelters Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claims a debt of Rs. 75,00,52,572/-. The Corporate Debtor, along with other co-borrowers, had availed a loan facility from the Financial Creditor, and a default occurred. The Financial Creditor seeks to initiate CIRP due to the Corporate Debtor's failure to repay the outstanding loan amount.
Piramal Capital & Housing Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Camel Shelters Private Limited (Corporate Debtor). The application was filed on 26.05.2022. The Financial Creditor claimed a total outstanding debt of Rs. 75,00,52,572/- as of 31.03.2022, comprising principal (Rs. 17,79,06,000/-) and interest (Rs. 57,21,26,472/-). The Corporate Debtor, along with 19 other associate companies, had requested financial assistance towards a mortgage loan. The Financial Creditor sanctioned a loan of Rs. 20,00,00,000/- jointly to the Corporate Debtor and co-borrowers on 26.09.2014. The loan was secured by a joint mortgage of
…Financial Creditor sanctioned a loan of Rs.…
The loan account was…