Viaromanaa Fashions (India) Private Limited, facing financial stress, filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company is unable to repay its debts to creditors. The Corporate Applicant is engaged in the business of trading of leather products such as shoes, handbags and wallets. The total debt payable to the Operational creditors amounts to Rs. 26,99,90,610.25/-. The Corporate Applicant has secured various credits facilities in the form of loan payables and Trade payables, as agreed from time to time from the Operational Creditors majorly from the years ranging from 2017 to 2023.
Viaromanaa Fashions (India) Private Limited, a company incorporated on 11.10.2011, filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP due to financial distress. The company's registered office is located in Mumbai. The company trades in leather products. The company has been incurring losses and is unable to pay its creditors. The total debt payable to Operational Creditors is Rs. 26,99,90,610.25/-, comprising loan payables of Rs. 25,74,22,978.04/- and trade payables of Rs. 1,25,67,632.21/-. The debts fell due on various occasions, and the company's revenue from operations was NIL as of 31.03.2024. The Board of Directors passed resolutions on 13.03.2024 and 28.03.2024 to initiate CIRP. The company authorized Mr.
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Viaromanaa Fashions…
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Viaromanaa Fashions (India) Private Limited, facing financial stress, filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company is unable to repay its debts to creditors. The Corporate Applicant is engaged in the business of trading of leather products such as shoes, handbags and wallets. The total debt payable to the Operational creditors amounts to Rs. 26,99,90,610.25/-. The Corporate Applicant has secured various credits facilities in the form of loan payables and Trade payables, as agreed from time to time from the Operational Creditors majorly from the years ranging from 2017 to 2023.
Viaromanaa Fashions (India) Private Limited, a company incorporated on 11.10.2011, filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP due to financial distress. The company's registered office is located in Mumbai. The company trades in leather products. The company has been incurring losses and is unable to pay its creditors. The total debt payable to Operational Creditors is Rs. 26,99,90,610.25/-, comprising loan payables of Rs. 25,74,22,978.04/- and trade payables of Rs. 1,25,67,632.21/-. The debts fell due on various occasions, and the company's revenue from operations was NIL as of 31.03.2024. The Board of Directors passed resolutions on 13.03.2024 and 28.03.2024 to initiate CIRP. The company authorized Mr.
…Viaromanaa Fashions…
Period for which bank…