The case involves a company petition filed by Bank of Baroda ('Financial Creditor'/'Bank') against M/s U.N. Automobiles Private Limited ('Corporate Debtor') under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC'/'Code') read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of the Corporate Insolvency Resolution Process ('CIRP') due to default in repayment of an outstanding loan amount. The Corporate Debtor initially availed a credit facility from State Bank of India, which was later taken over by Bank of Baroda in 2010. The Financial Creditor granted loans amounting to Rs. 35 Crores, secured by mortgage and guarantee. The Corporate Debtor also took over a loan from Udaipur Urban Cooperative
…M/s U.N. Automobiles Private Limited ('Corporate Debtor') availed loan facilities from Bank of Baroda ('Financial Creditor'). The Corporate Debtor defaulted in repayment, leading the Financial Creditor to file an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC'). The Corporate Debtor initially availed a credit facility of Rs. 35 Crore from State Bank of India, later taken over by Bank of Baroda in 2010. The Financial Creditor granted loans amounting to Rs. 35 Crores, secured by mortgage and guarantee. The Corporate Debtor also took over a loan from Udaipur Urban Cooperative Bank. The parties entered into a One-Time Settlement ('OTS'), but disputes arose regarding its implementation. The Corporate Debtor challenged the termination of the
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The Corporate Debtor,…
The Corporate Debtor approached the Financial…
The case involves a company petition filed by Bank of Baroda ('Financial Creditor'/'Bank') against M/s U.N. Automobiles Private Limited ('Corporate Debtor') under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC'/'Code') read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of the Corporate Insolvency Resolution Process ('CIRP') due to default in repayment of an outstanding loan amount. The Corporate Debtor initially availed a credit facility from State Bank of India, which was later taken over by Bank of Baroda in 2010. The Financial Creditor granted loans amounting to Rs. 35 Crores, secured by mortgage and guarantee. The Corporate Debtor also took over a loan from Udaipur Urban Cooperative
…M/s U.N. Automobiles Private Limited ('Corporate Debtor') availed loan facilities from Bank of Baroda ('Financial Creditor'). The Corporate Debtor defaulted in repayment, leading the Financial Creditor to file an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('IBC'). The Corporate Debtor initially availed a credit facility of Rs. 35 Crore from State Bank of India, later taken over by Bank of Baroda in 2010. The Financial Creditor granted loans amounting to Rs. 35 Crores, secured by mortgage and guarantee. The Corporate Debtor also took over a loan from Udaipur Urban Cooperative Bank. The parties entered into a One-Time Settlement ('OTS'), but disputes arose regarding its implementation. The Corporate Debtor challenged the termination of the
…The Corporate Debtor,…
The Corporate Debtor approached the Financial…