Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Narmada Extrusions Limited due to a default in payment of financial debts amounting to Rs. 95,31,92,434/- as of 14.11.2024.
Central Bank of India filed a petition under Section 7 of the IBC to initiate CIRP against Narmada Extrusions Limited.
The claimed default amount is Rs. 95,31,92,434/- as of 14.11.2024.
The Financial Creditor issued a notice dated 02.03.2024 under Section 13(2) of the SARFAESI Act, 2002.
The Corporate Debtor requested and was granted a 'holding-on operations' facility by the Financial Creditor vide letter dated 29.06.2024.
The Corporate Debtor submitted 4 restructuring proposals to the Applicant Bank.
The Corporate Debtor was classified as Non-Performing Asset (NPA) on 28.02.2024.
The Financial Creditor has placed on record certified statements of account, documentary evidence of loan transactions, and the certificate issued under the Bankers' Books Evidence Act.
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Default in payment of…
The loan account of the…
Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Narmada Extrusions Limited due to a default in payment of financial debts amounting to Rs. 95,31,92,434/- as of 14.11.2024.
Central Bank of India filed a petition under Section 7 of the IBC to initiate CIRP against Narmada Extrusions Limited.
The claimed default amount is Rs. 95,31,92,434/- as of 14.11.2024.
The Financial Creditor issued a notice dated 02.03.2024 under Section 13(2) of the SARFAESI Act, 2002.
The Corporate Debtor requested and was granted a 'holding-on operations' facility by the Financial Creditor vide letter dated 29.06.2024.
The Corporate Debtor submitted 4 restructuring proposals to the Applicant Bank.
The Corporate Debtor was classified as Non-Performing Asset (NPA) on 28.02.2024.
The Financial Creditor has placed on record certified statements of account, documentary evidence of loan transactions, and the certificate issued under the Bankers' Books Evidence Act.
…Default in payment of…
The loan account of the…