HDFC Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Vivin Laboratories Pvt Ltd, the corporate guarantor, to initiate Corporate Insolvency Resolution Process (CIRP). The application pertains to a financial debt owed by M/s. Vivin Drugs & Pharmaceuticals Limited, for which M/s. Vivin Laboratories Pvt Ltd acted as a corporate guarantor.
HDFC Bank, the financial creditor, filed an application under Section 7 of the IBC against M/s. Vivin Laboratories Pvt Ltd, the corporate guarantor.
M/s. Vivin Laboratories Pvt Ltd acted as a corporate guarantor for the financial assistance availed by M/s. Vivin Drugs & Pharmaceuticals Limited.
The initial sanction letter for credit facilities was issued on 26.04.2017, amounting to Rs. 6,437 lakhs.
The Corporate Debtor executed Letters of Continuing Guarantee guaranteeing repayment of the facilities availed by the Principal Borrower to the extent of Rs. 8,437 lakhs.
The Financial Creditor issued a Loan Recall-cum-Guarantee Invocation Notice dated 15.07.2024, calling upon the Principal Borrower and the Corporate Debtor to repay the outstanding dues.
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Initial Sanction Letter dated 26.04.2017…
The principal borrower…
HDFC Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Vivin Laboratories Pvt Ltd, the corporate guarantor, to initiate Corporate Insolvency Resolution Process (CIRP). The application pertains to a financial debt owed by M/s. Vivin Drugs & Pharmaceuticals Limited, for which M/s. Vivin Laboratories Pvt Ltd acted as a corporate guarantor.
HDFC Bank, the financial creditor, filed an application under Section 7 of the IBC against M/s. Vivin Laboratories Pvt Ltd, the corporate guarantor.
M/s. Vivin Laboratories Pvt Ltd acted as a corporate guarantor for the financial assistance availed by M/s. Vivin Drugs & Pharmaceuticals Limited.
The initial sanction letter for credit facilities was issued on 26.04.2017, amounting to Rs. 6,437 lakhs.
The Corporate Debtor executed Letters of Continuing Guarantee guaranteeing repayment of the facilities availed by the Principal Borrower to the extent of Rs. 8,437 lakhs.
The Financial Creditor issued a Loan Recall-cum-Guarantee Invocation Notice dated 15.07.2024, calling upon the Principal Borrower and the Corporate Debtor to repay the outstanding dues.
…Initial Sanction Letter dated 26.04.2017…
The principal borrower…