Shriram 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) Rules, against Om Shakthi Travels Pvt. Ltd. seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition pertains to defaults in repayment of vehicle loans.
Shriram Finance Limited filed a petition under Section 7 of the IBC against Om Shakthi Travels Pvt. Ltd.
The petition relates to defaults in repayment of vehicle loans provided by Shriram Finance Limited to Om Shakthi Travels Pvt. Ltd.
The Corporate Debtor defaulted in payments of monthly installments.
Shriram Finance Limited took possession of 15 hypothecated vehicles and sold them in public auction.
Arbitral proceedings were initiated, and awards were passed in favor of Shriram Finance Limited on 29.12.2020.
The total amount claimed in the petition is Rs.9,27,50,112/-.
The Corporate Debtor did not appear despite notice and was set ex-parte.
The Financial Creditor proposed the name of Shri. Viswanthan Mathur Sabhapathy as the Interim Resolution Professional.
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Om Shakthi Trav…
Arbitral awards were…
Shriram 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) Rules, against Om Shakthi Travels Pvt. Ltd. seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition pertains to defaults in repayment of vehicle loans.
Shriram Finance Limited filed a petition under Section 7 of the IBC against Om Shakthi Travels Pvt. Ltd.
The petition relates to defaults in repayment of vehicle loans provided by Shriram Finance Limited to Om Shakthi Travels Pvt. Ltd.
The Corporate Debtor defaulted in payments of monthly installments.
Shriram Finance Limited took possession of 15 hypothecated vehicles and sold them in public auction.
Arbitral proceedings were initiated, and awards were passed in favor of Shriram Finance Limited on 29.12.2020.
The total amount claimed in the petition is Rs.9,27,50,112/-.
The Corporate Debtor did not appear despite notice and was set ex-parte.
The Financial Creditor proposed the name of Shri. Viswanthan Mathur Sabhapathy as the Interim Resolution Professional.
…Om Shakthi Trav…
Arbitral awards were…