State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Hardrock Attachments Private Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor defaulted on payments of a loan amounting to Rs. 34,76,00,000/-. The petition was filed on 05 December, 2021.
State Bank of India (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Hardrock Attachments Private Limited (Corporate Debtor) for initiation of CIRP. The Financial Creditor disbursed Rs. 34,76,00,000/- to the Corporate Debtor under various facilities. The Corporate Debtor defaulted in payment of the principal amount and interest, totaling Rs. 64,55,80,125.70 as on 31 October, 2021. The date of default was stated as 28 December, 2013. The Corporate Debtor mortgaged immovable properties to avail the facilities. The Financial Creditor had already filed recovery proceedings before the Debt Recovery Tribunal, Ranchi, based on a recovery certificate issued on 23 February, 2018. The Financial Creditor also attempted to
…Sign in to view the parties.
The Corporate…
Financial Creditor filed…
Sign in to view related legal provisions.
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Hardrock Attachments Private Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed that the Corporate Debtor defaulted on payments of a loan amounting to Rs. 34,76,00,000/-. The petition was filed on 05 December, 2021.
State Bank of India (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Hardrock Attachments Private Limited (Corporate Debtor) for initiation of CIRP. The Financial Creditor disbursed Rs. 34,76,00,000/- to the Corporate Debtor under various facilities. The Corporate Debtor defaulted in payment of the principal amount and interest, totaling Rs. 64,55,80,125.70 as on 31 October, 2021. The date of default was stated as 28 December, 2013. The Corporate Debtor mortgaged immovable properties to avail the facilities. The Financial Creditor had already filed recovery proceedings before the Debt Recovery Tribunal, Ranchi, based on a recovery certificate issued on 23 February, 2018. The Financial Creditor also attempted to
…The Corporate…
Financial Creditor filed…
Sign in to view related legal provisions.