Srei Equipment Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Gajraj Mining Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). This was due to a default in payment of a financial debt amounting to Rs. 4,06,43,35,016/- as of 30.04.2024. The Financial Creditor had extended equipment finance facilities to the Corporate Debtor through 20 Loan-cum-Hypothecation Agreements for a total sanctioned sum of Rs. 1,43,98,46,401/-. The Corporate Debtor was irregular in its repayment obligations and acknowledged the outstanding debt in its audited Balance Sheet for Financial Year 2022-23.
Srei Equipment Finance Limited (Applicant/Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Gajraj Mining Private Limited (Respondent/Corporate Debtor).
The application sought to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in payment of financial debt.
The outstanding financial debt amounted to Rs. 4,06,43,35,016/- as of 30.04.2024, which was also the date of default.
Gajraj Mining Private Limited was incorporated on 07.09.2010 under the Companies Act, 2013, with CIN: U14107MP2010PTC024270.
Directors of the Corporate Debtor included Mr. Kabir Zaidi and Mr. Niranjan Kumar Sinha.
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SREI Equipment Finance Limited…
Gajraj Mining Private Limited…
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Srei Equipment Finance Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Gajraj Mining Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). This was due to a default in payment of a financial debt amounting to Rs. 4,06,43,35,016/- as of 30.04.2024. The Financial Creditor had extended equipment finance facilities to the Corporate Debtor through 20 Loan-cum-Hypothecation Agreements for a total sanctioned sum of Rs. 1,43,98,46,401/-. The Corporate Debtor was irregular in its repayment obligations and acknowledged the outstanding debt in its audited Balance Sheet for Financial Year 2022-23.
Srei Equipment Finance Limited (Applicant/Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Gajraj Mining Private Limited (Respondent/Corporate Debtor).
The application sought to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in payment of financial debt.
The outstanding financial debt amounted to Rs. 4,06,43,35,016/- as of 30.04.2024, which was also the date of default.
Gajraj Mining Private Limited was incorporated on 07.09.2010 under the Companies Act, 2013, with CIN: U14107MP2010PTC024270.
Directors of the Corporate Debtor included Mr. Kabir Zaidi and Mr. Niranjan Kumar Sinha.
…SREI Equipment Finance Limited…
Gajraj Mining Private Limited…
Sign in to view related legal provisions.