Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Shree Uttam Food Products Private Limited due to default in payment of outstanding debts amounting to Rs. 23,91,36,802/- as on 31st January 2024. The date of default is stated to be 04.01.2020.
Punjab National Bank filed a petition under Section 7 of the IBC against M/s Shree Uttam Food Products Private Limited.
The Corporate Debtor defaulted on payments amounting to Rs. 23,91,36,802/- as on 31st January 2024, with the date of default being 04.01.2020.
The Financial Creditor sanctioned Term Loan of Rs. 1500 Lakhs and CC Limits to the tune of Rs. 500 Lakhs, vide Sanction letter dated 29.01.2014.
The Respondent/ Corporate Debtor failed to pay the dues on the respective due dates of the various facilities and the account was classified as NPA on 04.01.2020.
The Financial Creditor initiated recovery proceedings before the Debt Recovery Tribunal, Jabalpur, by filing Original Application No. 118 of 2022.
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Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Shree Uttam Food Products Private Limited due to default in payment of outstanding debts amounting to Rs. 23,91,36,802/- as on 31st January 2024. The date of default is stated to be 04.01.2020.
Punjab National Bank filed a petition under Section 7 of the IBC against M/s Shree Uttam Food Products Private Limited.
The Corporate Debtor defaulted on payments amounting to Rs. 23,91,36,802/- as on 31st January 2024, with the date of default being 04.01.2020.
The Financial Creditor sanctioned Term Loan of Rs. 1500 Lakhs and CC Limits to the tune of Rs. 500 Lakhs, vide Sanction letter dated 29.01.2014.
The Respondent/ Corporate Debtor failed to pay the dues on the respective due dates of the various facilities and the account was classified as NPA on 04.01.2020.
The Financial Creditor initiated recovery proceedings before the Debt Recovery Tribunal, Jabalpur, by filing Original Application No. 118 of 2022.
…The account of the…
The Applicant issued…