UCO Bank (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against RMD Hotels & Resorts Private Limited (Corporate Debtor) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) due to a financial debt default of Rs. 2,03,00,950.93/- as of 31.07.2025. The Corporate Debtor raised several objections through an Interlocutory Application (IA), challenging the maintainability of the petition on grounds including lack of proper authorization for the signatory, non-compliance with evidentiary acts (Bankers' Books Evidence Act, 1891 and Information Technology Act, 2000), pendency of SARFAESI disputes before the DRT, issues with the NeSL Record of Default, and the contention that the default amount fell
…UCO Bank (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against RMD Hotels & Resorts Private Limited (Corporate Debtor).
The petition sought initiation of CIRP against the Corporate Debtor for non-payment of a financial debt.
The alleged financial debt amounted to Rs. 2,03,00,950.93/- as on 31.07.2025.
The date of default is 15.03.2024, when the Corporate Debtor's loan accounts were classified as Non-Performing Assets (NPA).
RMD Hotels & Resorts Private Limited is a private company engaged in the business of hoteliers and hotel management.
UCO Bank sanctioned various financial facilities to the Corporate Debtor, including mortgage loans, cash credit, and project term loans, between 2007 and 2019.
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UCO Bank sanctioned a mortgage loan facility of…
UCO Bank sanctioned a cash credit facility of…
UCO Bank (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against RMD Hotels & Resorts Private Limited (Corporate Debtor) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) due to a financial debt default of Rs. 2,03,00,950.93/- as of 31.07.2025. The Corporate Debtor raised several objections through an Interlocutory Application (IA), challenging the maintainability of the petition on grounds including lack of proper authorization for the signatory, non-compliance with evidentiary acts (Bankers' Books Evidence Act, 1891 and Information Technology Act, 2000), pendency of SARFAESI disputes before the DRT, issues with the NeSL Record of Default, and the contention that the default amount fell
…UCO Bank (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against RMD Hotels & Resorts Private Limited (Corporate Debtor).
The petition sought initiation of CIRP against the Corporate Debtor for non-payment of a financial debt.
The alleged financial debt amounted to Rs. 2,03,00,950.93/- as on 31.07.2025.
The date of default is 15.03.2024, when the Corporate Debtor's loan accounts were classified as Non-Performing Assets (NPA).
RMD Hotels & Resorts Private Limited is a private company engaged in the business of hoteliers and hotel management.
UCO Bank sanctioned various financial facilities to the Corporate Debtor, including mortgage loans, cash credit, and project term loans, between 2007 and 2019.
…UCO Bank sanctioned a mortgage loan facility of…
UCO Bank sanctioned a cash credit facility of…