M/S SREI Equipment Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Pratyush Infrastructure Private Limited due to a default in repayment of debt amounting to Rs. 30,71,09,916. The Corporate Debtor failed to appear before the Tribunal despite service of notice, leading to an ex-parte order.
M/S SREI Equipment Finance Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Pratyush Infrastructure Private Limited (Corporate Debtor). The Corporate Debtor requested a loan facility of Rs. 17,00,00,000, which was granted by the Financial Creditor. A sanction letter was issued on April 1, 2019, followed by a loan agreement dated April 5, 2019. The entire sanctioned amount was disbursed in three tranches on April 10, 2019. The Corporate Debtor failed to repay the amounts due, leading the Financial Creditor to issue a demand notice on September 19, 2022. The Corporate Debtor failed to respond or take steps towards repayment. The date of default
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M/S SREI Equipment Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Pratyush Infrastructure Private Limited due to a default in repayment of debt amounting to Rs. 30,71,09,916. The Corporate Debtor failed to appear before the Tribunal despite service of notice, leading to an ex-parte order.
M/S SREI Equipment Finance Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Pratyush Infrastructure Private Limited (Corporate Debtor). The Corporate Debtor requested a loan facility of Rs. 17,00,00,000, which was granted by the Financial Creditor. A sanction letter was issued on April 1, 2019, followed by a loan agreement dated April 5, 2019. The entire sanctioned amount was disbursed in three tranches on April 10, 2019. The Corporate Debtor failed to repay the amounts due, leading the Financial Creditor to issue a demand notice on September 19, 2022. The Corporate Debtor failed to respond or take steps towards repayment. The date of default
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Financial Creditor and…