The case involves a Company Petition filed by Reliance Commercial Finance Ltd. against RPL Solar Power Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to default in payment of a financial debt. The financial debt amounts to Rs. 5,04,6835,205/-, comprising principal, interest, and penal interest. The loan facilities were initially extended by Reliance Home Finance Limited and later assigned to Reliance Commercial Finance Limited.
Reliance Commercial Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against RPL Solar Power Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed due to a default in repayment of a total financial debt of Rs. 5,04,6835,205/-, which includes a principal amount of Rs. 1,81,00,00,000/-, interest of Rs. 1,34,77,84,520/-, and penal interest of Rs. 1,88,90,50,685/-. The debt arose from three loan facilities initially extended by Reliance Home Finance Limited to RPL Solar Power Private Limited. These loan facilities were later assigned to Reliance Commercial Finance Limited via a Deed of Assignment dated 31/03/2023. The Corporate Debtor admitted to facing financial stress and
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The case involves a Company Petition filed by Reliance Commercial Finance Ltd. against RPL Solar Power Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) due to default in payment of a financial debt. The financial debt amounts to Rs. 5,04,6835,205/-, comprising principal, interest, and penal interest. The loan facilities were initially extended by Reliance Home Finance Limited and later assigned to Reliance Commercial Finance Limited.
Reliance Commercial Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against RPL Solar Power Private Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed due to a default in repayment of a total financial debt of Rs. 5,04,6835,205/-, which includes a principal amount of Rs. 1,81,00,00,000/-, interest of Rs. 1,34,77,84,520/-, and penal interest of Rs. 1,88,90,50,685/-. The debt arose from three loan facilities initially extended by Reliance Home Finance Limited to RPL Solar Power Private Limited. These loan facilities were later assigned to Reliance Commercial Finance Limited via a Deed of Assignment dated 31/03/2023. The Corporate Debtor admitted to facing financial stress and
…The date of de…
Loan facilities assigned…