Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy Board of India (Petition to Adjudicating Authority), to initiate Corporate Insolvency Resolution Process (CIRP) against KMP Spinners Private Ltd.
Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against KMP Spinners Private Ltd.
The date of default was 29.08.2019, and the total amount of default was Rs. 11,43,92,972/-.
The Financial Creditor had granted Line of Credit and Term Loan facilities to the Corporate Debtor.
The Corporate Debtor committed continuous defaults on the due dates.
The Financial Creditor issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 16.09.2019.
The Corporate Debtor failed to file a reply/counter statement despite being given ample opportunity.
The Financial Creditor proposed the name of Mr. Ravindra Belayur as the Interim Resolution Professional (IRP).
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Sanction Lette…
Sanction Lette…
Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy Board of India (Petition to Adjudicating Authority), to initiate Corporate Insolvency Resolution Process (CIRP) against KMP Spinners Private Ltd.
Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against KMP Spinners Private Ltd.
The date of default was 29.08.2019, and the total amount of default was Rs. 11,43,92,972/-.
The Financial Creditor had granted Line of Credit and Term Loan facilities to the Corporate Debtor.
The Corporate Debtor committed continuous defaults on the due dates.
The Financial Creditor issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 16.09.2019.
The Corporate Debtor failed to file a reply/counter statement despite being given ample opportunity.
The Financial Creditor proposed the name of Mr. Ravindra Belayur as the Interim Resolution Professional (IRP).
Sanction Lette…
Sanction Lette…