Indian Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Dattar Ceramic Private Limited, the Corporate Debtor, for defaulting on outstanding dues of Rs. 47,30,18,245/-, including interest. The date of default was stated to be 31.12.2018. The Financial Creditor had sanctioned credit facilities to the Corporate Debtor for establishing a feldspar powder project, including an Open Cash Credit limit, a Term Loan, and a Bank Guarantee limit. The Corporate Debtor accepted the terms and conditions and provided securities, including personal guarantees. Despite availing the credit facilities, the Corporate Debtor defaulted on its repayment obligations. The Financial
…Indian Bank, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dattar Ceramic Private Limited, the Corporate Debtor. The petition was filed on 20.02.2025. The Corporate Debtor defaulted on payments amounting to Rs. 47,30,18,245/-, including interest, with the date of default being 31.12.2018. Indian Bank had sanctioned credit facilities to Dattar Ceramic Private Limited for a feldspar powder project, including an Open Cash Credit (OCC) limit of Rs. 6.00 crores, a Term Loan of Rs. 18.00 crores, and a Bank Guarantee limit of Rs. 1.00 crore. These facilities were sanctioned vide a letter dated 16.03.2017. The Corporate Debtor accepted the terms and
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Indian Bank sanctioned credit facilities to…
Dattar Ceramic Private Limited defaulted on…
Indian Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Dattar Ceramic Private Limited, the Corporate Debtor, for defaulting on outstanding dues of Rs. 47,30,18,245/-, including interest. The date of default was stated to be 31.12.2018. The Financial Creditor had sanctioned credit facilities to the Corporate Debtor for establishing a feldspar powder project, including an Open Cash Credit limit, a Term Loan, and a Bank Guarantee limit. The Corporate Debtor accepted the terms and conditions and provided securities, including personal guarantees. Despite availing the credit facilities, the Corporate Debtor defaulted on its repayment obligations. The Financial
…Indian Bank, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dattar Ceramic Private Limited, the Corporate Debtor. The petition was filed on 20.02.2025. The Corporate Debtor defaulted on payments amounting to Rs. 47,30,18,245/-, including interest, with the date of default being 31.12.2018. Indian Bank had sanctioned credit facilities to Dattar Ceramic Private Limited for a feldspar powder project, including an Open Cash Credit (OCC) limit of Rs. 6.00 crores, a Term Loan of Rs. 18.00 crores, and a Bank Guarantee limit of Rs. 1.00 crore. These facilities were sanctioned vide a letter dated 16.03.2017. The Corporate Debtor accepted the terms and
…Indian Bank sanctioned credit facilities to…
Dattar Ceramic Private Limited defaulted on…