The Biotechnology Industry Research Assistance Council filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Mediclone Biotech Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition pertains to a financial debt arising from loan agreements.
The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petitioner, Biotechnology Industry Research Assistance Council, is a non-profit public sector enterprise.
The corporate debtor, Mediclone Biotech Private Limited, is engaged in the business of producing monoclonal blood grouping and other seras.
The corporate debtor availed credit facilities for two projects, SBIRI59 and SBIRI60, amounting to Rs. 741.65 Lakhs.
The loan was sanctioned by the predecessor of the petitioner, Biotech Consortium India Limited SBIRI Management Agency.
The corporate debtor defaulted in repayment of the loan, leading to recall notices and legal notices.
The petitioner placed the NeSL certificate as a record of default.
…Sign in to view the parties.
Order pronounced on…
Loan of Rs.676.…
The Biotechnology Industry Research Assistance Council filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Mediclone Biotech Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition pertains to a financial debt arising from loan agreements.
The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petitioner, Biotechnology Industry Research Assistance Council, is a non-profit public sector enterprise.
The corporate debtor, Mediclone Biotech Private Limited, is engaged in the business of producing monoclonal blood grouping and other seras.
The corporate debtor availed credit facilities for two projects, SBIRI59 and SBIRI60, amounting to Rs. 741.65 Lakhs.
The loan was sanctioned by the predecessor of the petitioner, Biotech Consortium India Limited SBIRI Management Agency.
The corporate debtor defaulted in repayment of the loan, leading to recall notices and legal notices.
The petitioner placed the NeSL certificate as a record of default.
…Order pronounced on…
Loan of Rs.676.…