Hinduja Leyland Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), against M/s Owais Metal & Mineral Processing Limited (Corporate Debtor) for the initiation of Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged a financial debt and default aggregating Rs. 1,17,28,79,394.89/- arising from eight interconnected credit facilities. The Corporate Debtor disputed the exact amount of default, the date of default, and the completeness of the application due to the absence of an Information Utility record. Furthermore, the Corporate Debtor sought to keep the proceedings in abeyance, citing a pending Writ Petition before the Rajasthan High Court concerning a mining block
…Hinduja Leyland Finance Limited (Financial Creditor/Petitioner) filed an application under Section 7 of the IBC against M/s Owais Metal & Mineral Processing Limited (Corporate Debtor).
The application seeks initiation of CIRP for a financial debt and default aggregating Rs. 1,17,28,79,394.89/-.
The debt arose from eight interconnected credit facilities sanctioned and disbursed by the Petitioner in 2024 to the Corporate Debtor and other members of a common borrowing group.
Mr. Harsh Kumar, Regional Legal Manager of the Petitioner, is authorized to file the application via an Authority Letter dated 07.11.2025.
Mr. Rajesh Lohia (IBBI Registration No. IBBI/IPA-002/IP-N00049/2016-17/10093) was proposed as the Interim Resolution Professional (IRP).
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A Sanction Letter was issued, which the…
Multiple loan amounts were disbursed by the…
Hinduja Leyland Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), against M/s Owais Metal & Mineral Processing Limited (Corporate Debtor) for the initiation of Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged a financial debt and default aggregating Rs. 1,17,28,79,394.89/- arising from eight interconnected credit facilities. The Corporate Debtor disputed the exact amount of default, the date of default, and the completeness of the application due to the absence of an Information Utility record. Furthermore, the Corporate Debtor sought to keep the proceedings in abeyance, citing a pending Writ Petition before the Rajasthan High Court concerning a mining block
…Hinduja Leyland Finance Limited (Financial Creditor/Petitioner) filed an application under Section 7 of the IBC against M/s Owais Metal & Mineral Processing Limited (Corporate Debtor).
The application seeks initiation of CIRP for a financial debt and default aggregating Rs. 1,17,28,79,394.89/-.
The debt arose from eight interconnected credit facilities sanctioned and disbursed by the Petitioner in 2024 to the Corporate Debtor and other members of a common borrowing group.
Mr. Harsh Kumar, Regional Legal Manager of the Petitioner, is authorized to file the application via an Authority Letter dated 07.11.2025.
Mr. Rajesh Lohia (IBBI Registration No. IBBI/IPA-002/IP-N00049/2016-17/10093) was proposed as the Interim Resolution Professional (IRP).
…A Sanction Letter was issued, which the…
Multiple loan amounts were disbursed by the…