The Financial Creditor, State Bank of India, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Bhubaneshwari Sea Food Private Limited (Corporate Debtor) for outstanding dues of Rs. 10,01,97,424.35. The Corporate Debtor had availed various credit facilities from the Financial Creditor and subsequently failed to make repayments, leading to its account being declared a Non-Performing Asset (NPA).
State Bank of India (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Bhubaneshwari Sea Food Private Limited (Corporate Debtor).
The petition sought to recover outstanding dues of Rs. 10,01,97,424.35 from the Corporate Debtor.
The Corporate Debtor was incorporated on 27.05.2015, under the Companies Act, 2013.
The Corporate Debtor and its guarantors approached the Financial Creditor for credit facilities in 2020, which were approved and sanctioned.
Security documents were executed between the Corporate Debtor, its guarantors, and the Financial Creditor.
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M/s Bhubaneshwari Sea Food Private Limited…
The Corporate Debtor along with its…
The Financial Creditor, State Bank of India, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Bhubaneshwari Sea Food Private Limited (Corporate Debtor) for outstanding dues of Rs. 10,01,97,424.35. The Corporate Debtor had availed various credit facilities from the Financial Creditor and subsequently failed to make repayments, leading to its account being declared a Non-Performing Asset (NPA).
State Bank of India (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Bhubaneshwari Sea Food Private Limited (Corporate Debtor).
The petition sought to recover outstanding dues of Rs. 10,01,97,424.35 from the Corporate Debtor.
The Corporate Debtor was incorporated on 27.05.2015, under the Companies Act, 2013.
The Corporate Debtor and its guarantors approached the Financial Creditor for credit facilities in 2020, which were approved and sanctioned.
Security documents were executed between the Corporate Debtor, its guarantors, and the Financial Creditor.
…M/s Bhubaneshwari Sea Food Private Limited…
The Corporate Debtor along with its…