Tata Capital Financial Services Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against G.I. International Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The financial creditor claimed that the corporate debtor had defaulted on credit facilities obtained from them. The corporate debtor obtained various credit facilities from the financial creditor bank in several accounts with different sub-limits with an overall limit which was enhanced from time to time. The financial creditor submitted that the corporate debtor had failed to make payments despite repeated requests and reminders, leading to the application for CIRP.
Tata Capital Financial Services Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against G.I. International Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had obtained various credit facilities from the Financial Creditor, including working capital demand loans. Several agreements, sanction letters, and guarantees were executed between the parties. The Corporate Debtor defaulted on its repayment obligations, leading the Financial Creditor to issue demand notices. The last payments were made on 14/06/2018 and 19/09/2019 for Working Capital Demand Loan-II and Working Capital Demand Loan-I, respectively. The Financial Creditor filed the
…Sign in to view the parties.
Financial Creditor sanctioned a credit…
Agreement entered into…
Tata Capital Financial Services Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against G.I. International Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The financial creditor claimed that the corporate debtor had defaulted on credit facilities obtained from them. The corporate debtor obtained various credit facilities from the financial creditor bank in several accounts with different sub-limits with an overall limit which was enhanced from time to time. The financial creditor submitted that the corporate debtor had failed to make payments despite repeated requests and reminders, leading to the application for CIRP.
Tata Capital Financial Services Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against G.I. International Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had obtained various credit facilities from the Financial Creditor, including working capital demand loans. Several agreements, sanction letters, and guarantees were executed between the parties. The Corporate Debtor defaulted on its repayment obligations, leading the Financial Creditor to issue demand notices. The last payments were made on 14/06/2018 and 19/09/2019 for Working Capital Demand Loan-II and Working Capital Demand Loan-I, respectively. The Financial Creditor filed the
…Financial Creditor sanctioned a credit…
Agreement entered into…