Bank of India, as a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Sunbeam Dealers Private Limited (the Corporate Debtor) for defaulting on financial debt. The Corporate Debtor had availed two credit facilities, amounting to Rs. 10,00,00,000/-, sanctioned on 26.09.2014 and 30.09.2016, respectively. Due to non-adherence to the repayment schedule, the Corporate Debtor's loan account was classified as a Non-Performing Asset (NPA) on 30.04.2018. The Bank issued a demand/legal notice on 21.06.2018. A Recovery Certificate for the same debt was issued by the Debts Recovery Tribunal (DRT) on 06.12.2023. The total outstanding financial debt as on 17.10.2025 was Rs. 17,54,26,237.99/-.
Bank of India filed a Section 7 petition under the IBC, 2016, against Sunbeam Dealers Private Limited.
Sunbeam Dealers Private Limited (Corporate Debtor) availed a cash credit facility of Rs. 2.50 crore on 26.09.2014 and an enhanced facility to Rs. 10 crore on 30.09.2016 from Bank of India.
The Corporate Debtor executed Demand Promissory Notes and Acknowledgement of Debt for these facilities.
The Corporate Debtor failed to repay the outstanding dues, leading to its loan account being classified as NPA on 30.04.2018.
Bank of India issued a demand/legal notice on 21.06.2018 for repayment.
The total outstanding financial debt was Rs. 17,54,26,237.99/- as on 17.10.2025.
The Debts Recovery Tribunal (DRT), Ranchi issued a Recovery Certificate for the same debt on 06.12.2023.
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Bank of India sanctioned a cash credit…
Board Resolution passed by the Corporate…
Bank of India, as a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Sunbeam Dealers Private Limited (the Corporate Debtor) for defaulting on financial debt. The Corporate Debtor had availed two credit facilities, amounting to Rs. 10,00,00,000/-, sanctioned on 26.09.2014 and 30.09.2016, respectively. Due to non-adherence to the repayment schedule, the Corporate Debtor's loan account was classified as a Non-Performing Asset (NPA) on 30.04.2018. The Bank issued a demand/legal notice on 21.06.2018. A Recovery Certificate for the same debt was issued by the Debts Recovery Tribunal (DRT) on 06.12.2023. The total outstanding financial debt as on 17.10.2025 was Rs. 17,54,26,237.99/-.
Bank of India filed a Section 7 petition under the IBC, 2016, against Sunbeam Dealers Private Limited.
Sunbeam Dealers Private Limited (Corporate Debtor) availed a cash credit facility of Rs. 2.50 crore on 26.09.2014 and an enhanced facility to Rs. 10 crore on 30.09.2016 from Bank of India.
The Corporate Debtor executed Demand Promissory Notes and Acknowledgement of Debt for these facilities.
The Corporate Debtor failed to repay the outstanding dues, leading to its loan account being classified as NPA on 30.04.2018.
Bank of India issued a demand/legal notice on 21.06.2018 for repayment.
The total outstanding financial debt was Rs. 17,54,26,237.99/- as on 17.10.2025.
The Debts Recovery Tribunal (DRT), Ranchi issued a Recovery Certificate for the same debt on 06.12.2023.
…Bank of India sanctioned a cash credit…
Board Resolution passed by the Corporate…