The case pertains to a Company Petition filed by BMG Chemicals Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP).
BMG Chemicals Private Limited filed a petition under Section 10 of the IBC to initiate CIRP.
The Corporate Applicant was incorporated on 25.09.1997 under the Companies Act, 1956.
The Corporate Applicant's Nominal Share Capital is Rs. 50,00,000/- and Paid-up Capital is Rs. 21,00,000/-.
The Corporate Applicant has a net loss of Rs. 47,96,02,225/- as on 31.03.2025.
The Corporate Applicant has 81 total creditors, including one financial creditor and 74 operational creditors.
The Corporate Applicant defaulted in payment of dues owed to 8 operational creditors.
The total amount in default is Rs. 16,65,61,949/- as on 29.05.2025.
The Corporate Applicant passed a Board Resolution on 26.04.2025 to initiate CIRP.
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The Corporate…
YES Bank Limited issued a sanction letter for a…
The case pertains to a Company Petition filed by BMG Chemicals Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP).
BMG Chemicals Private Limited filed a petition under Section 10 of the IBC to initiate CIRP.
The Corporate Applicant was incorporated on 25.09.1997 under the Companies Act, 1956.
The Corporate Applicant's Nominal Share Capital is Rs. 50,00,000/- and Paid-up Capital is Rs. 21,00,000/-.
The Corporate Applicant has a net loss of Rs. 47,96,02,225/- as on 31.03.2025.
The Corporate Applicant has 81 total creditors, including one financial creditor and 74 operational creditors.
The Corporate Applicant defaulted in payment of dues owed to 8 operational creditors.
The total amount in default is Rs. 16,65,61,949/- as on 29.05.2025.
The Corporate Applicant passed a Board Resolution on 26.04.2025 to initiate CIRP.
…The Corporate…
YES Bank Limited issued a sanction letter for a…