Buldana Urban Cooperative Credit Society Limited Buldana (Applicant/Financial Creditor) filed an application bearing C.P. (IB) No.767/MB/2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Amar Seeds Private Limited (Corporate Debtor/CD) for initiating Corporate Insolvency Resolution Process (CIRP). The application, filed on 30.07.2025, alleged a default of Rs. 24,26,03,387/- as on 06.05.2025, arising from a loan sanctioned on 10.04.2023 for Rs. 18 Crores. The loan was secured by a mortgage deed and personal guarantees from directors/guarantors. The Applicant claimed that the CD defaulted on instalments after a 12-month moratorium period, leading to the account being classified as NPA on 30.11.2024, and demand notices were issued on
…Buldana Urban Cooperative Credit Society Limited Buldana (Applicant) filed an application under Section 7 of the IBC, 2016, against Amar Seeds Private Limited (Corporate Debtor/CD) for initiating CIRP.
The application, C.P. (IB) No.767/MB/2025, was filed on 30.07.2025.
The Applicant, identified as a Financial Creditor, claimed a total default amount of Rs. 24,26,03,387/- as on 06.05.2025.
The financial debt arose from a loan of Rs. 18 Crores sanctioned to the CD by the Applicant vide a Loan Sanction Letter dated 10.04.2023.
A Loan Agreement dated 29.04.2023 was executed between the parties, with interest at 15% per annum for a tenure of 120 months (108+12 months moratorium).
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A Tripartite Agreement was executed between the…
Loan Sanction Letter for Rs. 18 Crores issued by…
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Buldana Urban Cooperative Credit Society Limited Buldana (Applicant/Financial Creditor) filed an application bearing C.P. (IB) No.767/MB/2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Amar Seeds Private Limited (Corporate Debtor/CD) for initiating Corporate Insolvency Resolution Process (CIRP). The application, filed on 30.07.2025, alleged a default of Rs. 24,26,03,387/- as on 06.05.2025, arising from a loan sanctioned on 10.04.2023 for Rs. 18 Crores. The loan was secured by a mortgage deed and personal guarantees from directors/guarantors. The Applicant claimed that the CD defaulted on instalments after a 12-month moratorium period, leading to the account being classified as NPA on 30.11.2024, and demand notices were issued on
…Buldana Urban Cooperative Credit Society Limited Buldana (Applicant) filed an application under Section 7 of the IBC, 2016, against Amar Seeds Private Limited (Corporate Debtor/CD) for initiating CIRP.
The application, C.P. (IB) No.767/MB/2025, was filed on 30.07.2025.
The Applicant, identified as a Financial Creditor, claimed a total default amount of Rs. 24,26,03,387/- as on 06.05.2025.
The financial debt arose from a loan of Rs. 18 Crores sanctioned to the CD by the Applicant vide a Loan Sanction Letter dated 10.04.2023.
A Loan Agreement dated 29.04.2023 was executed between the parties, with interest at 15% per annum for a tenure of 120 months (108+12 months moratorium).
…A Tripartite Agreement was executed between the…
Loan Sanction Letter for Rs. 18 Crores issued by…
Sign in to view related legal provisions.