The case involves an application filed by Bank of India, the Financial Creditor, against Hallmark Infrastructure Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a total sum of Rs.1,20,26,946.73/- as the amount due and payable by the Corporate Debtor. The Corporate Debtor had taken various credit facilities from the Financial Creditor, which were renewed from time to time. The facilities sanctioned as per the loan and security documents on 13.03.2013 and 28.12.2013 amounted to Rs.14.94 Crores. The Corporate Debtor executed three Demand Promissory Notes for a sum of Rs.2 Crores, Rs.10 Crores and Rs.2.94 Crores on
…Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Hallmark Infrastructure Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor had defaulted in repayment of a loan amounting to Rs.1,20,26,946.73/-. The Corporate Debtor had taken various credit facilities from the Financial Creditor, amounting to Rs.14.94 Crores, which were sanctioned on 13.03.2013 and 28.12.2013. The Corporate Debtor executed three Demand Promissory Notes for a sum of Rs.2 Crores, Rs.10 Crores and Rs.2.94 Crores on 15.04.2013, 28.12.2013 and 28.12.2013 respectively. The Corporate Debtor submitted an OTS to the
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Financial Creditor…
Financial Creditor…
The case involves an application filed by Bank of India, the Financial Creditor, against Hallmark Infrastructure Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a total sum of Rs.1,20,26,946.73/- as the amount due and payable by the Corporate Debtor. The Corporate Debtor had taken various credit facilities from the Financial Creditor, which were renewed from time to time. The facilities sanctioned as per the loan and security documents on 13.03.2013 and 28.12.2013 amounted to Rs.14.94 Crores. The Corporate Debtor executed three Demand Promissory Notes for a sum of Rs.2 Crores, Rs.10 Crores and Rs.2.94 Crores on
…Bank of India, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Hallmark Infrastructure Private Limited, the Corporate Debtor, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor had defaulted in repayment of a loan amounting to Rs.1,20,26,946.73/-. The Corporate Debtor had taken various credit facilities from the Financial Creditor, amounting to Rs.14.94 Crores, which were sanctioned on 13.03.2013 and 28.12.2013. The Corporate Debtor executed three Demand Promissory Notes for a sum of Rs.2 Crores, Rs.10 Crores and Rs.2.94 Crores on 15.04.2013, 28.12.2013 and 28.12.2013 respectively. The Corporate Debtor submitted an OTS to the
…Financial Creditor…
Financial Creditor…