United Masterbatches Pvt. Ltd., the Corporate Debtor, filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP). The application was filed through its authorized director, Mr. Debdip Ghosh, following a Board Resolution dated 24 January 2024. The company had availed various credit facilities from UCO Bank, accumulating a total financial debt of Rs. 4,82,00,801/-, and failed to service its debt obligations due to financial distress, leading to a Loan Recall Notice from UCO Bank.
United Masterbatches Pvt. Ltd. (Corporate Debtor/Applicant) filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself.
The application was filed through its authorized director, Mr. Debdip Ghosh, pursuant to a Board Resolution dated 24 January 2024.
The Corporate Debtor was incorporated on 25 October 2006.
The Corporate Applicant availed various credit facilities from UCO Bank, India Exchange Place Branch, Kolkata.
The total financial debt outstanding is Rs. 4,82,00,801/-, comprising principal of Rs. 4,64,00,000/- and interest of Rs. 18,00,801/-.
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United Masterbatches Pvt.…
Term Loan Agreement and Composite Deed of…
United Masterbatches Pvt. Ltd., the Corporate Debtor, filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP). The application was filed through its authorized director, Mr. Debdip Ghosh, following a Board Resolution dated 24 January 2024. The company had availed various credit facilities from UCO Bank, accumulating a total financial debt of Rs. 4,82,00,801/-, and failed to service its debt obligations due to financial distress, leading to a Loan Recall Notice from UCO Bank.
United Masterbatches Pvt. Ltd. (Corporate Debtor/Applicant) filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself.
The application was filed through its authorized director, Mr. Debdip Ghosh, pursuant to a Board Resolution dated 24 January 2024.
The Corporate Debtor was incorporated on 25 October 2006.
The Corporate Applicant availed various credit facilities from UCO Bank, India Exchange Place Branch, Kolkata.
The total financial debt outstanding is Rs. 4,82,00,801/-, comprising principal of Rs. 4,64,00,000/- and interest of Rs. 18,00,801/-.
…United Masterbatches Pvt.…
Term Loan Agreement and Composite Deed of…