The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 on 08.09.2023 by Omkara Asset Reconstruction Company Private Limited (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Kristal Infrastructure Limited (Corporate Debtor). The total outstanding amount is Rs. 1,12,98,86,950, including a principal amount of Rs. 28,65,49,756, monthly floating interest at 20.25% p.a. (Rs.15,39,66,159), penal interest at 24% p.a. of Rs.68,92,43,420, and other charges of Rs. 1,27,615. The date of default is 27.06.2016. The Financial Creditor was assigned this loan by Piramal Capital and Housing Finance Limited (PCHFL).
…Omkara Asset Reconstruction Company Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kristal Infrastructure Limited (Corporate Debtor). The total outstanding amount was Rs. 1,12,98,86,950, including principal, interest, and penal interest. The date of default was 27.06.2016. The Financial Creditor was assigned the loan from Piramal Capital and Housing Finance Limited (PCHFL), which had previously acquired it from Dewan Housing Finance Limited (DHFL). Kristal Infrastructure Limited had taken a loan from DHFL, secured by various securities. DHFL issued demand cum recall notices on 20.06.2016 and 18.02.2019. One-Time Settlement (OTS) letters
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DHFL extended Financial Assistance in form…
Loan agreement and…
The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 on 08.09.2023 by Omkara Asset Reconstruction Company Private Limited (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Kristal Infrastructure Limited (Corporate Debtor). The total outstanding amount is Rs. 1,12,98,86,950, including a principal amount of Rs. 28,65,49,756, monthly floating interest at 20.25% p.a. (Rs.15,39,66,159), penal interest at 24% p.a. of Rs.68,92,43,420, and other charges of Rs. 1,27,615. The date of default is 27.06.2016. The Financial Creditor was assigned this loan by Piramal Capital and Housing Finance Limited (PCHFL).
…Omkara Asset Reconstruction Company Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Kristal Infrastructure Limited (Corporate Debtor). The total outstanding amount was Rs. 1,12,98,86,950, including principal, interest, and penal interest. The date of default was 27.06.2016. The Financial Creditor was assigned the loan from Piramal Capital and Housing Finance Limited (PCHFL), which had previously acquired it from Dewan Housing Finance Limited (DHFL). Kristal Infrastructure Limited had taken a loan from DHFL, secured by various securities. DHFL issued demand cum recall notices on 20.06.2016 and 18.02.2019. One-Time Settlement (OTS) letters
…DHFL extended Financial Assistance in form…
Loan agreement and…