Asset Reconstruction Company (India) Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking Corporate Insolvency Resolution Process (CIRP) of ACCIL Corporation Pvt. Ltd. due to default in payment of Rs. 107,18,81,910/-.
Asset Reconstruction Company (India) Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The application seeks Corporate Insolvency Resolution Process (CIRP) of ACCIL Corporation Pvt. Ltd.
The application is based on a default in payment of Rs. 107,18,81,910/-.
The Indian Overseas Bank Limited originally sanctioned a Term Loan Facility of Rs. 50,00,00,000/- to the Corporate Debtor on 18.04.2011.
Bank assigned the Term Loan along with all rights, title, and interest to ARCIL on 07.03.2024.
The Corporate Debtor approached a syndicate of Banks consisting of Corporation Bank, Central Bank of India, Indian Bank, Karur Vyas Bank, and Indian Overseas Bank for credit facilities to construct a five-star deluxe hotel.
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Indian Overseas Bank Limited sanctioned a Term…
Bank assigned the Term…
Asset Reconstruction Company (India) Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking Corporate Insolvency Resolution Process (CIRP) of ACCIL Corporation Pvt. Ltd. due to default in payment of Rs. 107,18,81,910/-.
Asset Reconstruction Company (India) Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The application seeks Corporate Insolvency Resolution Process (CIRP) of ACCIL Corporation Pvt. Ltd.
The application is based on a default in payment of Rs. 107,18,81,910/-.
The Indian Overseas Bank Limited originally sanctioned a Term Loan Facility of Rs. 50,00,00,000/- to the Corporate Debtor on 18.04.2011.
Bank assigned the Term Loan along with all rights, title, and interest to ARCIL on 07.03.2024.
The Corporate Debtor approached a syndicate of Banks consisting of Corporation Bank, Central Bank of India, Indian Bank, Karur Vyas Bank, and Indian Overseas Bank for credit facilities to construct a five-star deluxe hotel.
…Indian Overseas Bank Limited sanctioned a Term…
Bank assigned the Term…