The case involves a petition filed by Omkara Assets Reconstruction Private Limited, the Financial Creditor/Applicant, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Ego Flooring Private Limited, the Corporate Debtor/Respondent, due to a default of Rs.6,49,53,183.26/- as of 31st December 2023.
Omkara Assets Reconstruction Private Limited filed the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Ego Flooring Private Limited.
The total default amount is stated to be Rs.6,49,53,183.26/- as on 31st December 2023, with the date of default as 31st January 2020.
Ego Flooring Private Limited had initially approached IndusInd Bank Limited for financial assistance.
IndusInd Bank Limited (IBL) sanctioned credit facilities to Ego Flooring Private Limited pursuant to a Sanction Letter dated 06th May 2016.
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IndusInd Bank Limited…
Applicant claims the…
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The case involves a petition filed by Omkara Assets Reconstruction Private Limited, the Financial Creditor/Applicant, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Ego Flooring Private Limited, the Corporate Debtor/Respondent, due to a default of Rs.6,49,53,183.26/- as of 31st December 2023.
Omkara Assets Reconstruction Private Limited filed the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Ego Flooring Private Limited.
The total default amount is stated to be Rs.6,49,53,183.26/- as on 31st December 2023, with the date of default as 31st January 2020.
Ego Flooring Private Limited had initially approached IndusInd Bank Limited for financial assistance.
IndusInd Bank Limited (IBL) sanctioned credit facilities to Ego Flooring Private Limited pursuant to a Sanction Letter dated 06th May 2016.
…IndusInd Bank Limited…
Applicant claims the…
Sign in to view related legal provisions.