The case pertains to a petition filed by Central Bank of India, a Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited, the Corporate Debtor, due to default in payment of a principal amount of Rs. 189,18,63,774/-.
Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited.
The Corporate Debtor defaulted in making a payment of Rs. 189,18,63,774/-.
The application was filed on 13.05.2024.
The total amount of default is Rs. 379,16,21,684/-.
Hanung Furnishing Private Limited is a Corporate Guarantor to the Principal Borrower M/s. Hanung Toys & Textile Limited.
The account of the Principal Borrower was classified as NPA on 19.08.2013.
A common Notice under Section 13(2) of SARFAESI Act, 2002 was issued on 17.10.2015.
The Corporate Guarantee was invoked by the Financial Creditor on 17.10.2015.
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The present application…
The matter was proceeded ex parte against…
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The case pertains to a petition filed by Central Bank of India, a Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited, the Corporate Debtor, due to default in payment of a principal amount of Rs. 189,18,63,774/-.
Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited.
The Corporate Debtor defaulted in making a payment of Rs. 189,18,63,774/-.
The application was filed on 13.05.2024.
The total amount of default is Rs. 379,16,21,684/-.
Hanung Furnishing Private Limited is a Corporate Guarantor to the Principal Borrower M/s. Hanung Toys & Textile Limited.
The account of the Principal Borrower was classified as NPA on 19.08.2013.
A common Notice under Section 13(2) of SARFAESI Act, 2002 was issued on 17.10.2015.
The Corporate Guarantee was invoked by the Financial Creditor on 17.10.2015.
…The present application…
The matter was proceeded ex parte against…
Sign in to view related legal provisions.