Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ishape Appliances Private Limited due to default in repayment of financial debt.
Punjab National Bank filed a petition under Section 7 of the IBC against Ishape Appliances Private Limited.
The Corporate Debtor defaulted on a financial debt of ₹17,13,16,221.85 as on 03.02.2024, with the date of default stated as 30.11.2020.
The Financial Creditor sanctioned credit facilities to the Corporate Debtor vide Sanction Letter dated 22.01.2018.
The Corporate Debtor's loan account was classified as NPA on 30.11.2020.
The Corporate Debtor executed a Balance and Security Confirmation Letter dated 05.01.2021, acknowledging the outstanding liability.
The Financial Creditor initiated recovery proceedings under the SARFAESI Act, 2002, and filed Original Application No. 1285 of 2022 before the Debt Recovery Tribunal, Jabalpur.
…Sign in to view the parties.
Corporate Debtor…
Financial Creditor…
Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ishape Appliances Private Limited due to default in repayment of financial debt.
Punjab National Bank filed a petition under Section 7 of the IBC against Ishape Appliances Private Limited.
The Corporate Debtor defaulted on a financial debt of ₹17,13,16,221.85 as on 03.02.2024, with the date of default stated as 30.11.2020.
The Financial Creditor sanctioned credit facilities to the Corporate Debtor vide Sanction Letter dated 22.01.2018.
The Corporate Debtor's loan account was classified as NPA on 30.11.2020.
The Corporate Debtor executed a Balance and Security Confirmation Letter dated 05.01.2021, acknowledging the outstanding liability.
The Financial Creditor initiated recovery proceedings under the SARFAESI Act, 2002, and filed Original Application No. 1285 of 2022 before the Debt Recovery Tribunal, Jabalpur.
…Corporate Debtor…
Financial Creditor…