Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. GJS Infratech Private Limited, alleging default in payment of a financial debt exceeding one crore rupees. The corporate debtor had availed credit and ECLGS facilities from the bank. The bank classified the corporate debtor's account as a non-performing asset (NPA) on 2022-05-29 due to the default. The bank issued a demand notice on 2022-10-06, but received no response, leading to the filing of the petition.
Canara Bank, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. GJS Infratech Private Limited, the corporate debtor. The corporate debtor had availed credit and ECLGS facilities from Canara Bank under a Working Capital Facility Agreement dated 2023-10-11. The total amount due was Rs. 125,40,00,000/-. The corporate debtor defaulted in discharging the debt, leading Canara Bank to classify the account as a non-performing asset on 2022-05-29. Canara Bank issued a demand notice on 2022-10-06 for Rs. 117,17,14,260.34/-, but received no response. The pre-admission notice to the corporate debtor was returned unserved, leading to substituted service through newspaper publication. The petitioner submitted various
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The account of M/s. GJS Infratech Private…
Canara Bank issued a demand notice to M/s.…
Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. GJS Infratech Private Limited, alleging default in payment of a financial debt exceeding one crore rupees. The corporate debtor had availed credit and ECLGS facilities from the bank. The bank classified the corporate debtor's account as a non-performing asset (NPA) on 2022-05-29 due to the default. The bank issued a demand notice on 2022-10-06, but received no response, leading to the filing of the petition.
Canara Bank, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. GJS Infratech Private Limited, the corporate debtor. The corporate debtor had availed credit and ECLGS facilities from Canara Bank under a Working Capital Facility Agreement dated 2023-10-11. The total amount due was Rs. 125,40,00,000/-. The corporate debtor defaulted in discharging the debt, leading Canara Bank to classify the account as a non-performing asset on 2022-05-29. Canara Bank issued a demand notice on 2022-10-06 for Rs. 117,17,14,260.34/-, but received no response. The pre-admission notice to the corporate debtor was returned unserved, leading to substituted service through newspaper publication. The petitioner submitted various
…The account of M/s. GJS Infratech Private…
Canara Bank issued a demand notice to M/s.…