HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shri Bhagwati Agro Industries Private Limited, citing a default in payment of financial debts amounting to Rs. 10,44,03,044.07 as of 31.12.2024.
HDFC Bank Limited filed a petition under Section 7 of the IBC to initiate CIRP against Shri Bhagwati Agro Industries Private Limited.
The claimed default amount is Rs. 10,44,03,044.07 as on 31.12.2024.
The Corporate Debtor was sanctioned various financial facilities by HDFC Bank from 2016 to 2023.
The Corporate Debtor's account was classified as Non-Performing Asset (NPA) on 28.07.2024.
HDFC Bank issued a demand notice dated 13.12.2024 under Section 13(2) of the SARFAESI Act, 2002.
The Corporate Debtor submitted an OTS proposal on 25.04.2025.
A certificate of NESL i.e. Form-D dated 08.11.2024 is placed on record indicating a default date of 28.07.2024.
Ms. Teena Saraswat Pandey is appointed as Interim Resolution Professional (IRP).
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The default date for…
The account of the…
HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shri Bhagwati Agro Industries Private Limited, citing a default in payment of financial debts amounting to Rs. 10,44,03,044.07 as of 31.12.2024.
HDFC Bank Limited filed a petition under Section 7 of the IBC to initiate CIRP against Shri Bhagwati Agro Industries Private Limited.
The claimed default amount is Rs. 10,44,03,044.07 as on 31.12.2024.
The Corporate Debtor was sanctioned various financial facilities by HDFC Bank from 2016 to 2023.
The Corporate Debtor's account was classified as Non-Performing Asset (NPA) on 28.07.2024.
HDFC Bank issued a demand notice dated 13.12.2024 under Section 13(2) of the SARFAESI Act, 2002.
The Corporate Debtor submitted an OTS proposal on 25.04.2025.
A certificate of NESL i.e. Form-D dated 08.11.2024 is placed on record indicating a default date of 28.07.2024.
Ms. Teena Saraswat Pandey is appointed as Interim Resolution Professional (IRP).
The default date for…
The account of the…