Pegasus Assets Reconstruction Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Shri Balaji Entertainments Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a total default of Rs.35,90,56,629/-. The Date of Default was 01.06.2019, and the date of NPA classification was 02.12.2019. The petition was filed on 18.05.2021.
Pegasus Assets Reconstruction Private Limited filed a petition under Section 7 of the I&B Code against Shri Balaji Entertainments Private Limited for initiating CIRP. The Financial Creditor claimed a default of Rs.35,90,56,629/-, with the date of default being 01.06.2019 and NPA classification on 02.12.2019. The Financial Creditor had sanctioned credit facilities to the Corporate Debtor, including LRD Term Loan and Overdraft Facility. M/s Universal Textile Waterproof Co. India was the Principal Borrower, and the Corporate Debtor was the Co-Borrower and Corporate Guarantor. SVC Co-operative Bank initially sanctioned the loans, which were later assigned to the Financial Creditor. The Corporate Debtor argued that the petition was unwarranted and an abuse of the
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The date of default as…
The date of classification of the Corporate…
Pegasus Assets Reconstruction Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Shri Balaji Entertainments Private Limited, the Corporate Debtor, for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a total default of Rs.35,90,56,629/-. The Date of Default was 01.06.2019, and the date of NPA classification was 02.12.2019. The petition was filed on 18.05.2021.
Pegasus Assets Reconstruction Private Limited filed a petition under Section 7 of the I&B Code against Shri Balaji Entertainments Private Limited for initiating CIRP. The Financial Creditor claimed a default of Rs.35,90,56,629/-, with the date of default being 01.06.2019 and NPA classification on 02.12.2019. The Financial Creditor had sanctioned credit facilities to the Corporate Debtor, including LRD Term Loan and Overdraft Facility. M/s Universal Textile Waterproof Co. India was the Principal Borrower, and the Corporate Debtor was the Co-Borrower and Corporate Guarantor. SVC Co-operative Bank initially sanctioned the loans, which were later assigned to the Financial Creditor. The Corporate Debtor argued that the petition was unwarranted and an abuse of the
…The date of default as…
The date of classification of the Corporate…