PNB Housing Finance Limited filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Nakoda Fruit Products Private Limited, the Corporate Debtor. The petition was filed due to the Corporate Debtor's default on a loan amounting to Rs. 15,18,62,040.07/-.
PNB Housing Finance Limited (Financial Creditor) filed a petition under Section 7 of the IBC seeking to initiate CIRP against Nakoda Fruit Products Private Limited (Corporate Debtor) due to loan default. The loan application was dated 2018-09-11. The Financial Creditor sanctioned a loan of Rs. 10,52,00,000/- to the Corporate Debtor, disbursed through multiple transactions between 2018-09-29 and 2019-05-31. The Corporate Debtor defaulted on the loan, leading to the account being classified as a Non-Performing Asset (NPA) on 2019-12-14. A notice was issued on 2020-01-15 under Section 13(2) of the SARFAESI Act. The Financial Creditor issued a pre-sale compliance notice on 2021-09-16. As of 2023-01-19, the total outstanding amount was Rs. 15,18,62,040.07/-. The Corporate
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PNB Housing Finance Limited filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Nakoda Fruit Products Private Limited, the Corporate Debtor. The petition was filed due to the Corporate Debtor's default on a loan amounting to Rs. 15,18,62,040.07/-.
PNB Housing Finance Limited (Financial Creditor) filed a petition under Section 7 of the IBC seeking to initiate CIRP against Nakoda Fruit Products Private Limited (Corporate Debtor) due to loan default. The loan application was dated 2018-09-11. The Financial Creditor sanctioned a loan of Rs. 10,52,00,000/- to the Corporate Debtor, disbursed through multiple transactions between 2018-09-29 and 2019-05-31. The Corporate Debtor defaulted on the loan, leading to the account being classified as a Non-Performing Asset (NPA) on 2019-12-14. A notice was issued on 2020-01-15 under Section 13(2) of the SARFAESI Act. The Financial Creditor issued a pre-sale compliance notice on 2021-09-16. As of 2023-01-19, the total outstanding amount was Rs. 15,18,62,040.07/-. The Corporate
…The Corporate Debtor…
The Financial Creditor…