State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Deccan Tradcom Private Limited, claiming a default of Rs. 47,38,93,742.68 as of August 31, 2021.
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Deccan Tradcom Private Limited.
The claimed default amount is Rs. 47,38,93,742.68 as of August 31, 2021.
The Corporate Debtor was served through publication in two newspapers.
The Corporate Debtor did not appear despite service.
The Financial Creditor relied on various documents, including the letter of sanction of credit facilities, agreement of hypothecation, guarantee agreements, balance sheets, statement of account, loan recall notice, and demand notice.
An order was passed by DRT-I on 11th April, 2023, in favour of the Financial Creditor.
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State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Deccan Tradcom Private Limited, claiming a default of Rs. 47,38,93,742.68 as of August 31, 2021.
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Deccan Tradcom Private Limited.
The claimed default amount is Rs. 47,38,93,742.68 as of August 31, 2021.
The Corporate Debtor was served through publication in two newspapers.
The Corporate Debtor did not appear despite service.
The Financial Creditor relied on various documents, including the letter of sanction of credit facilities, agreement of hypothecation, guarantee agreements, balance sheets, statement of account, loan recall notice, and demand notice.
An order was passed by DRT-I on 11th April, 2023, in favour of the Financial Creditor.
…The total amount…
Order passed by Debts…