The case pertains to an application filed by M/s INOX Tubes Private Limited ('Corporate Applicant') under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) as the Corporate Debtor. The Corporate Applicant admitted to defaulting on a debt of Rs. 4,09,14,185.98/-. The Corporate Applicant, incorporated on 26.12.2007, is engaged in manufacturing, trading, assembling, dealing, and fabricating metal pipes. It initially received financial facilities from Jammu & Kashmir Bank and IndusInd Bank, which were later shifted to HDFC Bank in 2005. A loan agreement was entered into with HDFC Bank on 26.08.2015, providing a term loan of Rs. 20,00,000/- and a cash credit facility of Rs. 3,80,00,000/-. While
…M/s INOX Tubes Private Limited ('Corporate Applicant') filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) as the Corporate Debtor. The company, incorporated on 26.12.2007, is a private limited company involved in manufacturing, trading, assembling, dealing, and fabricating metal pipes. The Corporate Applicant defaulted on a debt of Rs. 4,09,14,185.98/- owed to Financial Creditors. Initially, the company received financial facilities from Jammu & Kashmir Bank and IndusInd Bank, which were later shifted to HDFC Bank in 2005. On 26.08.2015, a loan agreement was entered into with HDFC Bank, providing a term loan of Rs. 20,00,000/- and a cash credit facility of Rs. 3,80,00,000/-.
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M/s INOX Tubes Private…
Corporate Applicant entered into a loan…
The case pertains to an application filed by M/s INOX Tubes Private Limited ('Corporate Applicant') under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) as the Corporate Debtor. The Corporate Applicant admitted to defaulting on a debt of Rs. 4,09,14,185.98/-. The Corporate Applicant, incorporated on 26.12.2007, is engaged in manufacturing, trading, assembling, dealing, and fabricating metal pipes. It initially received financial facilities from Jammu & Kashmir Bank and IndusInd Bank, which were later shifted to HDFC Bank in 2005. A loan agreement was entered into with HDFC Bank on 26.08.2015, providing a term loan of Rs. 20,00,000/- and a cash credit facility of Rs. 3,80,00,000/-. While
…M/s INOX Tubes Private Limited ('Corporate Applicant') filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) as the Corporate Debtor. The company, incorporated on 26.12.2007, is a private limited company involved in manufacturing, trading, assembling, dealing, and fabricating metal pipes. The Corporate Applicant defaulted on a debt of Rs. 4,09,14,185.98/- owed to Financial Creditors. Initially, the company received financial facilities from Jammu & Kashmir Bank and IndusInd Bank, which were later shifted to HDFC Bank in 2005. On 26.08.2015, a loan agreement was entered into with HDFC Bank, providing a term loan of Rs. 20,00,000/- and a cash credit facility of Rs. 3,80,00,000/-.
…M/s INOX Tubes Private…
Corporate Applicant entered into a loan…