Canara Bank, as the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Triveni Infratech Private Limited, the Corporate Debtor and Corporate Guarantor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's failure to honor its obligations under a corporate guarantee issued for M/s. Juhi Industries Private Limited (Principal Borrower). The Principal Borrower's loan account had been classified as a Non-Performing Asset (NPA) and CIRP had already been initiated against it. The Corporate Debtor raised several objections, including an incorrect description of its name in the application, the absence of an independent default on its part, the
…Canara Bank, as Financial Creditor, filed an application under Section 7 of the IBC, 2016, against Triveni Infratech Private Limited.
Triveni Infratech Private Limited is the Corporate Debtor and Corporate Guarantor in this application.
M/s. Juhi Industries Private Limited is the Principal Borrower, which received credit facilities from a consortium of lenders.
The consortium of lenders included Bank of Baroda and Syndicate Bank, with Syndicate Bank later merging with Canara Bank on 01.04.2020.
Triveni Infratech Private Limited executed two Deeds of Corporate Guarantee on 06.08.2014 and 27.10.2016, securing the dues of the Principal Borrower.
The Principal Borrower's loan account was classified as a Non-Performing Asset (NPA) on 30.03.2018.
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A consortium of lenders sanctioned a Term Loan…
Consortium members executed an…
Canara Bank, as the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Triveni Infratech Private Limited, the Corporate Debtor and Corporate Guarantor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to the Corporate Debtor's failure to honor its obligations under a corporate guarantee issued for M/s. Juhi Industries Private Limited (Principal Borrower). The Principal Borrower's loan account had been classified as a Non-Performing Asset (NPA) and CIRP had already been initiated against it. The Corporate Debtor raised several objections, including an incorrect description of its name in the application, the absence of an independent default on its part, the
…Canara Bank, as Financial Creditor, filed an application under Section 7 of the IBC, 2016, against Triveni Infratech Private Limited.
Triveni Infratech Private Limited is the Corporate Debtor and Corporate Guarantor in this application.
M/s. Juhi Industries Private Limited is the Principal Borrower, which received credit facilities from a consortium of lenders.
The consortium of lenders included Bank of Baroda and Syndicate Bank, with Syndicate Bank later merging with Canara Bank on 01.04.2020.
Triveni Infratech Private Limited executed two Deeds of Corporate Guarantee on 06.08.2014 and 27.10.2016, securing the dues of the Principal Borrower.
The Principal Borrower's loan account was classified as a Non-Performing Asset (NPA) on 30.03.2018.
…A consortium of lenders sanctioned a Term Loan…
Consortium members executed an…