SREI Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against SKY Infra Logistics Private Limited, citing a default of Rs. 2,73,17,117/- as of December 15, 2019. The Corporate Debtor had approached the Financial Creditor for a loan of Rs. 1,15,00,000/-, and a loan agreement was executed between them. The Financial Creditor also invoked the SARFAESI Act, 2002 before the Debt Recovery Tribunal (DRT).
SREI Equipment Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against SKY Infra Logistics Private Limited (Corporate Debtor). The Corporate Debtor approached the Financial Creditor for a loan of Rs. 1,15,00,000/-. A loan agreement was executed between the parties under contract No. 180869 dated September 15, 2019. The Corporate Debtor defaulted on the first installment due on December 15, 2019. The Financial Creditor recalled the loan and requested repayment of the principal and accrued interest. The Financial Creditor invoked the SARFAESI Act, 2002, before the Debt Recovery Tribunal (DRT). The Financial Creditor claimed a default of Rs.
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Loan agreement executed between SREI Equipment…
SKY Infra Logistics…
SREI Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against SKY Infra Logistics Private Limited, citing a default of Rs. 2,73,17,117/- as of December 15, 2019. The Corporate Debtor had approached the Financial Creditor for a loan of Rs. 1,15,00,000/-, and a loan agreement was executed between them. The Financial Creditor also invoked the SARFAESI Act, 2002 before the Debt Recovery Tribunal (DRT).
SREI Equipment Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against SKY Infra Logistics Private Limited (Corporate Debtor). The Corporate Debtor approached the Financial Creditor for a loan of Rs. 1,15,00,000/-. A loan agreement was executed between the parties under contract No. 180869 dated September 15, 2019. The Corporate Debtor defaulted on the first installment due on December 15, 2019. The Financial Creditor recalled the loan and requested repayment of the principal and accrued interest. The Financial Creditor invoked the SARFAESI Act, 2002, before the Debt Recovery Tribunal (DRT). The Financial Creditor claimed a default of Rs.
…Loan agreement executed between SREI Equipment…
SKY Infra Logistics…