MSA Ventures Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Infiniti Metal Products India Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). 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 credit availed from UCO Bank. The loan was sanctioned and disbursed on various dates in November 2022. 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 default.
MSA Ventures Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Infiniti Metal Products India Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). 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 approached the Financial Creditor on 15.11.2022 seeking a loan facility of Rs. 14,00,00,000.00 to clear credit availed from UCO Bank. The loan was sanctioned and disbursed on various dates in November 2022: Rs. 50,00,00,00/- on 21.11.2022, Rs. 30,00,00,00/- on 28.11.2022, Rs. 35,00,00,00/- on 29.11.2022, and Rs. 25,00,00,00/- on 30.11.2022. The Corporate Debtor
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Infiniti Metal Products India Limited…
Rs. 50,00,00,00/- disbursed by MSA Ventures…
MSA Ventures Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Infiniti Metal Products India Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). 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 credit availed from UCO Bank. The loan was sanctioned and disbursed on various dates in November 2022. 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 default.
MSA Ventures Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Infiniti Metal Products India Limited (Corporate Debtor) seeking initiation of Corporate Insolvency Resolution Process (CIRP). 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 approached the Financial Creditor on 15.11.2022 seeking a loan facility of Rs. 14,00,00,000.00 to clear credit availed from UCO Bank. The loan was sanctioned and disbursed on various dates in November 2022: Rs. 50,00,00,00/- on 21.11.2022, Rs. 30,00,00,00/- on 28.11.2022, Rs. 35,00,00,00/- on 29.11.2022, and Rs. 25,00,00,00/- on 30.11.2022. The Corporate Debtor
…Infiniti Metal Products India Limited…
Rs. 50,00,00,00/- disbursed by MSA Ventures…