Chartered Finance Management Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Roadways Solutions India Infra Ltd., the Corporate Debtor. The claim was for Rs. 7,99,60,000/- in default, with the default date specified as 25.04.2022. The Corporate Debtor engaged the Operational Creditor to provide advisory services for raising credit facilities for its projects, including the Package X Project, and agreed to pay a fee of 1.5% of the sanctioned amount. A term loan of Rs. 480 crores was sanctioned by Canara Bank in favor of Vadodara Mumbai Expressway Pkg 10 Private Limited (VNMP10PL), a Special Purpose Vehicle (SPV)
…Chartered Finance Management Private Limited (Operational Creditor) filed a petition against Roadways Solutions India Infra Ltd. (Corporate Debtor) under Section 9 of the IBC, claiming a default of Rs. 7,99,60,000/-. The default date was specified as 25.04.2022. The Corporate Debtor engaged the Operational Creditor via a mandate letter dated 14.07.2021 to provide advisory services for raising credit facilities up to Rs. 1750 Crores for its projects, including the 'Package X Project'. The agreement stipulated a fee of 1.5% of the sanctioned amount, payable in two installments (50% upon sanction and 50% upon disbursement to the SPV). A term loan of Rs. 480 crores was sanctioned by Canara Bank on 04.01.2022 to Vadodara Mumbai Expressway Pkg 10 Private Limited (VNMP10PL),
…Sign in to view the parties.
Corporate Debtor issued a Mandate Letter to…
Canara Bank sanctioned…
Chartered Finance Management Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Roadways Solutions India Infra Ltd., the Corporate Debtor. The claim was for Rs. 7,99,60,000/- in default, with the default date specified as 25.04.2022. The Corporate Debtor engaged the Operational Creditor to provide advisory services for raising credit facilities for its projects, including the Package X Project, and agreed to pay a fee of 1.5% of the sanctioned amount. A term loan of Rs. 480 crores was sanctioned by Canara Bank in favor of Vadodara Mumbai Expressway Pkg 10 Private Limited (VNMP10PL), a Special Purpose Vehicle (SPV)
…Chartered Finance Management Private Limited (Operational Creditor) filed a petition against Roadways Solutions India Infra Ltd. (Corporate Debtor) under Section 9 of the IBC, claiming a default of Rs. 7,99,60,000/-. The default date was specified as 25.04.2022. The Corporate Debtor engaged the Operational Creditor via a mandate letter dated 14.07.2021 to provide advisory services for raising credit facilities up to Rs. 1750 Crores for its projects, including the 'Package X Project'. The agreement stipulated a fee of 1.5% of the sanctioned amount, payable in two installments (50% upon sanction and 50% upon disbursement to the SPV). A term loan of Rs. 480 crores was sanctioned by Canara Bank on 04.01.2022 to Vadodara Mumbai Expressway Pkg 10 Private Limited (VNMP10PL),
…Corporate Debtor issued a Mandate Letter to…
Canara Bank sanctioned…