Roopam Textiles Trading Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company, incorporated on 22.04.2004, cited its inability to pay debts amounting to ₹10,00,12,895.49. The company's registered office is located in Bhubaneswar, Odisha. The company attributes its financial distress to economic slowdown, demonetization, GST implementation, COVID-19, and difficulties in securing adequate loan amounts.
Roopam Textiles Trading Private Limited, incorporated on 22.04.2004, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company's registered office is in Bhubaneswar, Odisha. The company has an authorized share capital of Rs. 75,00,000 and a nominal share capital of Rs. 80,00,000. The company is engaged in the business of textiles, fabrics, and wearing apparel. The company defaulted on payments to operational creditors (Rs. 3,26,44,615.85), financial creditors (Rs. 6,37,28,980.67), and statutory taxes (Rs. 36,39,298). The company attributes its financial difficulties to economic slowdown, demonetization, GST implementation, and COVID-19. A secured creditor
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Roopam Textiles…
Board of Directors' meeting held wherein…
Roopam Textiles Trading Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company, incorporated on 22.04.2004, cited its inability to pay debts amounting to ₹10,00,12,895.49. The company's registered office is located in Bhubaneswar, Odisha. The company attributes its financial distress to economic slowdown, demonetization, GST implementation, COVID-19, and difficulties in securing adequate loan amounts.
Roopam Textiles Trading Private Limited, incorporated on 22.04.2004, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company's registered office is in Bhubaneswar, Odisha. The company has an authorized share capital of Rs. 75,00,000 and a nominal share capital of Rs. 80,00,000. The company is engaged in the business of textiles, fabrics, and wearing apparel. The company defaulted on payments to operational creditors (Rs. 3,26,44,615.85), financial creditors (Rs. 6,37,28,980.67), and statutory taxes (Rs. 36,39,298). The company attributes its financial difficulties to economic slowdown, demonetization, GST implementation, and COVID-19. A secured creditor
…Roopam Textiles…
Board of Directors' meeting held wherein…