MSA Ventures Private Limited filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Infiniti Metal Products India Limited, the Corporate Debtor. The Financial Creditor claimed a default of Rs. 15,30,12,000.00 as of 10.10.2023, with the date of default being 02.07.2023. The Corporate Debtor had approached the Financial Creditor on 15.11.2022 seeking a loan facility of Rs. 14,00,00,000.00 to clear a credit facility availed from UCO Bank. The loan was sanctioned and disbursed on various dates. The Corporate Debtor executed a deed of hypothecation on 02.01.2023. The Corporate Debtor failed to adhere to the repayment terms, leading to the Financial Creditor recalling the
…MSA Ventures Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Infiniti Metal Products India Limited (Corporate Debtor). The Financial Creditor claimed a default of Rs. 15,30,12,000.00 as of 10.10.2023, with the date of default being 02.07.2023. The Corporate Debtor had sought a loan facility of Rs. 14,00,00,000.00 from the Financial Creditor on 15.11.2022 to clear a credit facility from UCO Bank. The loan was sanctioned and disbursed on various dates in November 2022. A deed of hypothecation was executed on 02.01.2023. The Corporate Debtor defaulted on repayment, leading the Financial Creditor to recall the loan via letter dated
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MSA Ventures Private…
Infiniti Metal Products India Limited…
MSA Ventures Private Limited filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Infiniti Metal Products India Limited, the Corporate Debtor. The Financial Creditor claimed a default of Rs. 15,30,12,000.00 as of 10.10.2023, with the date of default being 02.07.2023. The Corporate Debtor had approached the Financial Creditor on 15.11.2022 seeking a loan facility of Rs. 14,00,00,000.00 to clear a credit facility availed from UCO Bank. The loan was sanctioned and disbursed on various dates. The Corporate Debtor executed a deed of hypothecation on 02.01.2023. The Corporate Debtor failed to adhere to the repayment terms, leading to the Financial Creditor recalling the
…MSA Ventures Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Infiniti Metal Products India Limited (Corporate Debtor). The Financial Creditor claimed a default of Rs. 15,30,12,000.00 as of 10.10.2023, with the date of default being 02.07.2023. The Corporate Debtor had sought a loan facility of Rs. 14,00,00,000.00 from the Financial Creditor on 15.11.2022 to clear a credit facility from UCO Bank. The loan was sanctioned and disbursed on various dates in November 2022. A deed of hypothecation was executed on 02.01.2023. The Corporate Debtor defaulted on repayment, leading the Financial Creditor to recall the loan via letter dated
…MSA Ventures Private…
Infiniti Metal Products India Limited…