Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Priya Food Products Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to outstanding dues of Rs. 9,90,09,826.07/-. An Interlocutory Application (IA) was filed seeking substitution of the applicant's name from Aditya Birla Finance Limited to Aditya Birla Capital Limited due to amalgamation.
Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Priya Food Products Limited.
The Corporate Debtor defaulted on payments amounting to Rs. 9,90,09,826.07/- as of 31.08.2023.
The Financial Creditor sanctioned and disbursed a total loan facility aggregating to Rs. 14,04,53,278/-.
The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 29.08.2023.
Aditya Birla Finance Limited amalgamated with Aditya Birla Capital Limited with effect from 01.04.2025.
An order was passed by the NCLT, Ahmedabad Bench, approving the scheme of amalgamation on 24th March, 2025.
The Adjudicating Authority proceeded ex parte against the Corporate Debtor due to their failure to appear.
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Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Priya Food Products Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to outstanding dues of Rs. 9,90,09,826.07/-. An Interlocutory Application (IA) was filed seeking substitution of the applicant's name from Aditya Birla Finance Limited to Aditya Birla Capital Limited due to amalgamation.
Aditya Birla Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Priya Food Products Limited.
The Corporate Debtor defaulted on payments amounting to Rs. 9,90,09,826.07/- as of 31.08.2023.
The Financial Creditor sanctioned and disbursed a total loan facility aggregating to Rs. 14,04,53,278/-.
The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 29.08.2023.
Aditya Birla Finance Limited amalgamated with Aditya Birla Capital Limited with effect from 01.04.2025.
An order was passed by the NCLT, Ahmedabad Bench, approving the scheme of amalgamation on 24th March, 2025.
The Adjudicating Authority proceeded ex parte against the Corporate Debtor due to their failure to appear.
…The Corporate Debtor…
The Corporate Debtor's…