The State Bank of India, as a financial creditor, filed an application under Section 7 of the IBC to initiate CIRP against R.P. Info Systems Ltd. due to an alleged default. The application was initially allowed, then set aside by NCLAT on limitation grounds, and subsequently remanded by the Supreme Court for reconsideration on merits, allowing the financial creditor to amend its application.
State Bank of India, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against R.P. Info Systems Ltd., the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process ( CIRP ). The total amount claimed in default is Rs. 322.01 Crore as of February 28, 2019. The dates of default are claimed as May 25, 2013, June 17, 2013, and August 29, 2013, when the corporate debtor's account was classified as Non-Performing Asset (NPA) with e-SBBJ, SBI, and e-SBI respectively. These dates were extended by the corporate debtor's admission of debt in its balance sheets on various dates up to September 2, 2019. The corporate debtor, R.P. Info Systems Ltd., has been in the business of producing and distributing
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The corporate debtor's account was classified…
The corporate debtor's account was classified…
The State Bank of India, as a financial creditor, filed an application under Section 7 of the IBC to initiate CIRP against R.P. Info Systems Ltd. due to an alleged default. The application was initially allowed, then set aside by NCLAT on limitation grounds, and subsequently remanded by the Supreme Court for reconsideration on merits, allowing the financial creditor to amend its application.
State Bank of India, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against R.P. Info Systems Ltd., the corporate debtor, seeking to initiate the Corporate Insolvency Resolution Process ( CIRP ). The total amount claimed in default is Rs. 322.01 Crore as of February 28, 2019. The dates of default are claimed as May 25, 2013, June 17, 2013, and August 29, 2013, when the corporate debtor's account was classified as Non-Performing Asset (NPA) with e-SBBJ, SBI, and e-SBI respectively. These dates were extended by the corporate debtor's admission of debt in its balance sheets on various dates up to September 2, 2019. The corporate debtor, R.P. Info Systems Ltd., has been in the business of producing and distributing
…The corporate debtor's account was classified…
The corporate debtor's account was classified…