Seri Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tattva Valuers Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on the Corporate Debtor's alleged default on financial obligations arising from Rupee Facility Agreements. The Financial Creditor claimed that the Corporate Debtor had failed to meet its repayment obligations despite repeated reminders.
Seri Equipment Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tattva Valuers Private Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on financial obligations arising from two Rupee Facility Agreements: one dated 25th July, 2018, for Rs.300,00,00,000/- and another dated 31st October, 2019, for Rs.250,00,00,000/-. The Corporate Debtor availed both fund-based and non-fund-based assistance through these agreements. The Financial Creditor disbursed funds and arranged Letters of Credit for the Corporate Debtor. The Corporate Debtor failed to meet its repayment obligations despite reminders. The total amount in default as of 31st March, 2021, was
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Seri Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tattva Valuers Private Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The application was based on the Corporate Debtor's alleged default on financial obligations arising from Rupee Facility Agreements. The Financial Creditor claimed that the Corporate Debtor had failed to meet its repayment obligations despite repeated reminders.
Seri Equipment Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tattva Valuers Private Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on financial obligations arising from two Rupee Facility Agreements: one dated 25th July, 2018, for Rs.300,00,00,000/- and another dated 31st October, 2019, for Rs.250,00,00,000/-. The Corporate Debtor availed both fund-based and non-fund-based assistance through these agreements. The Financial Creditor disbursed funds and arranged Letters of Credit for the Corporate Debtor. The Corporate Debtor failed to meet its repayment obligations despite reminders. The total amount in default as of 31st March, 2021, was
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Corporate Debtor…