The Cosmos Co-operative Bank Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Cubatics Industries Private Limited. The Financial Creditor claimed a total outstanding amount of Rs. 20,55,59,549 as of 31.03.2025, including a principal amount of Rs. 19,00,00,000. The Corporate Debtor's account was classified as NPA on 14.01.2024, and a SARFAESI notice was issued on 13.08.2024. The Financial Creditor disbursed a sum of Rs. 10 Crores as cash credit facilities on 04.04.2016 and enhanced the cash credit limit by Rs. 9 Crores on 02.11.2021.
The Cosmos Co-operative Bank Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Cubatics Industries Private Limited (Corporate Debtor). The Financial Creditor claimed a total outstanding amount of Rs. 20,55,59,549 as of 31.03.2025, including a principal amount of Rs. 19,00,00,000. The Corporate Debtor's account was classified as NPA on 14.01.2024, and a SARFAESI notice was issued on 13.08.2024, demanding Rs. 19.96 Crores as of 31.07.2024. The Corporate Debtor paid Rs. 1,33,67,576 between 01.08.2024 and 31.01.2025 in response to the SARFAESI notice. The Financial Creditor disbursed Rs. 10 Crores as cash credit facilities on 04.04.2016 and
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The Cosmos Co-operative Bank Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Cubatics Industries Private Limited. The Financial Creditor claimed a total outstanding amount of Rs. 20,55,59,549 as of 31.03.2025, including a principal amount of Rs. 19,00,00,000. The Corporate Debtor's account was classified as NPA on 14.01.2024, and a SARFAESI notice was issued on 13.08.2024. The Financial Creditor disbursed a sum of Rs. 10 Crores as cash credit facilities on 04.04.2016 and enhanced the cash credit limit by Rs. 9 Crores on 02.11.2021.
The Cosmos Co-operative Bank Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Cubatics Industries Private Limited (Corporate Debtor). The Financial Creditor claimed a total outstanding amount of Rs. 20,55,59,549 as of 31.03.2025, including a principal amount of Rs. 19,00,00,000. The Corporate Debtor's account was classified as NPA on 14.01.2024, and a SARFAESI notice was issued on 13.08.2024, demanding Rs. 19.96 Crores as of 31.07.2024. The Corporate Debtor paid Rs. 1,33,67,576 between 01.08.2024 and 31.01.2025 in response to the SARFAESI notice. The Financial Creditor disbursed Rs. 10 Crores as cash credit facilities on 04.04.2016 and
…Applicant sanctioned…
Rs. 10 Crores d…