CSB Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kute Sons Fresh Dairy Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the corporate debtor's failure to repay its debts. The corporate debtor was previously known as 'Tirumalaa Fresh Daairy Farm Private Limited'. The applicant sanctioned and disbursed loans to the corporate debtor, including a cash credit limit and a term loan. The corporate debtor defaulted in repayment, leading to the account being classified as a Non-Performing Asset (NPA).
CSB Bank Limited (the 'Applicant') filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC') against Kute Sons Fresh Dairy Private Limited (the 'Corporate Debtor' or 'CD') for initiating Corporate Insolvency Resolution Process ('CIRP'). The CD was previously known as 'Tirumalaa Fresh Daairy Farm Private Limited'. The Applicant had sanctioned and disbursed a cash credit limit of Rs. 25 Crore and a term loan of Rs. 20 Crore to the CD. The cash credit was later reduced to Rs. 18 Crore. The first disbursement for the cash credit was on 16.10.2020, and for the term loan, it was on 28.10.2020. The loans were secured by a registered mortgage of three immovable properties and hypothecation of movable assets. The CD defaulted on 18.03.2024, and
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CSB Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Kute Sons Fresh Dairy Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The application was filed due to the corporate debtor's failure to repay its debts. The corporate debtor was previously known as 'Tirumalaa Fresh Daairy Farm Private Limited'. The applicant sanctioned and disbursed loans to the corporate debtor, including a cash credit limit and a term loan. The corporate debtor defaulted in repayment, leading to the account being classified as a Non-Performing Asset (NPA).
CSB Bank Limited (the 'Applicant') filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC') against Kute Sons Fresh Dairy Private Limited (the 'Corporate Debtor' or 'CD') for initiating Corporate Insolvency Resolution Process ('CIRP'). The CD was previously known as 'Tirumalaa Fresh Daairy Farm Private Limited'. The Applicant had sanctioned and disbursed a cash credit limit of Rs. 25 Crore and a term loan of Rs. 20 Crore to the CD. The cash credit was later reduced to Rs. 18 Crore. The first disbursement for the cash credit was on 16.10.2020, and for the term loan, it was on 28.10.2020. The loans were secured by a registered mortgage of three immovable properties and hypothecation of movable assets. The CD defaulted on 18.03.2024, and
…Applicant's S…
Disbursement…