The petition was filed by Punjab National Bank, a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Sohrab Spinning Mills Limited, the corporate debtor, due to a default in payment of financial debt.
Punjab National Bank, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Sohrab Spinning Mills Limited, the corporate debtor. The petition was signed by Sh. Hassan Ali, Senior Manager and Attorney for Punjab National Bank, and included an affidavit verifying its contents. The corporate debtor was incorporated on July 18, 1989, under the Companies Act, 1956, with its registered office in Malerkotla, Punjab, and a second address in Ludhiana, Punjab, establishing the Chandigarh Bench's jurisdiction. The corporate debtor repeatedly approached
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Punjab National Bank…
The corporate debtor's account was classified…
The petition was filed by Punjab National Bank, a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Sohrab Spinning Mills Limited, the corporate debtor, due to a default in payment of financial debt.
Punjab National Bank, the financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Sohrab Spinning Mills Limited, the corporate debtor. The petition was signed by Sh. Hassan Ali, Senior Manager and Attorney for Punjab National Bank, and included an affidavit verifying its contents. The corporate debtor was incorporated on July 18, 1989, under the Companies Act, 1956, with its registered office in Malerkotla, Punjab, and a second address in Ludhiana, Punjab, establishing the Chandigarh Bench's jurisdiction. The corporate debtor repeatedly approached
…Punjab National Bank…
The corporate debtor's account was classified…