The case involves an application filed by Tapi Sahakari Patapedhi Ltd., the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, against IBRIDGE Solutions Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The total claim amounts to Rs. 1,94,58,212/-. The default occurred on 25.03.2017 when the loan accounts 170/32 and 170/33 were recalled, and the Corporate Debtor failed to make the payments. The Corporate Debtor had availed loan facilities and personal surety loans from the Financial Creditor, acknowledging the outstanding liabilities in various financial statements from FY 2006-2007 to FY 2010-2011. The Financial Creditor issued loan recall notices on 02.04.2014 and 25.03.2017. The
…Tapi Sahakari Patapedhi Ltd. (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against IBRIDGE Solutions Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP) due to a total claim of Rs. 1,94,58,212/-. The default occurred on 25.03.2017 when Loan Account Nos. 170/32 and 170/33 were recalled. The Corporate Debtor passed a Board Resolution on 03.01.2006 and availed a loan facility up to Rs. 5,00,00,000/-. The Corporate Debtor also availed Personal Surety Loans amounting to Rs. 1,00,00,000 on 20.01.2007. The Financial Creditor sanctioned loan facilities on 15.02.2007 and 15.03.2007 and disbursed the loans on 29.03.2007. The Corporate Debtor acknowledged outstanding liabilities in
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Corporate Debtor passed a Board Resolution…
Corporate Debtor availed Personal Surety Loan…
The case involves an application filed by Tapi Sahakari Patapedhi Ltd., the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, against IBRIDGE Solutions Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The total claim amounts to Rs. 1,94,58,212/-. The default occurred on 25.03.2017 when the loan accounts 170/32 and 170/33 were recalled, and the Corporate Debtor failed to make the payments. The Corporate Debtor had availed loan facilities and personal surety loans from the Financial Creditor, acknowledging the outstanding liabilities in various financial statements from FY 2006-2007 to FY 2010-2011. The Financial Creditor issued loan recall notices on 02.04.2014 and 25.03.2017. The
…Tapi Sahakari Patapedhi Ltd. (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against IBRIDGE Solutions Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP) due to a total claim of Rs. 1,94,58,212/-. The default occurred on 25.03.2017 when Loan Account Nos. 170/32 and 170/33 were recalled. The Corporate Debtor passed a Board Resolution on 03.01.2006 and availed a loan facility up to Rs. 5,00,00,000/-. The Corporate Debtor also availed Personal Surety Loans amounting to Rs. 1,00,00,000 on 20.01.2007. The Financial Creditor sanctioned loan facilities on 15.02.2007 and 15.03.2007 and disbursed the loans on 29.03.2007. The Corporate Debtor acknowledged outstanding liabilities in
…Corporate Debtor passed a Board Resolution…
Corporate Debtor availed Personal Surety Loan…