Bank of Maharashtra, a Financial Creditor, filed an application under Section 7 of the IBC, 2016, against Tirumalla India Storehouse Private Limited, the Corporate Guarantor, seeking initiation of CIRP. The Corporate Debtor had guaranteed credit facilities availed by the Principal Borrower, M/s Tirumalla Agro Industries Pvt. Ltd., from Bank of Maharashtra. The Principal Borrower defaulted, leading to the invocation of the corporate guarantee. The invocation notice was returned undelivered, prompting public notice. The Corporate Debtor failed to make payment, and its right to file a reply was closed, proceeding ex-parte.
Bank of Maharashtra (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Tirumalla India Storehouse Private Limited (Corporate Debtor/Guarantor).
The application seeks commencement of CIRP, appointment of IRP, and declaration of moratorium.
Bank of Maharashtra is the Financial Creditor, represented by its Authorised Officer Somnath Bajrang Sasane.
Tirumalla India Storehouse Private Limited is the Corporate Debtor.
The Principal Borrower, M/s Tirumalla Agro Industries Pvt. Ltd., obtained various credit facilities from Bank of Maharashtra under consortium lending.
The Corporate Debtor, Tirumalla India Storehouse Private Limited, provided a corporate guarantee for these credit facilities.
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Bank of Maharas…
Tirumalla India…
Bank of Maharashtra, a Financial Creditor, filed an application under Section 7 of the IBC, 2016, against Tirumalla India Storehouse Private Limited, the Corporate Guarantor, seeking initiation of CIRP. The Corporate Debtor had guaranteed credit facilities availed by the Principal Borrower, M/s Tirumalla Agro Industries Pvt. Ltd., from Bank of Maharashtra. The Principal Borrower defaulted, leading to the invocation of the corporate guarantee. The invocation notice was returned undelivered, prompting public notice. The Corporate Debtor failed to make payment, and its right to file a reply was closed, proceeding ex-parte.
Bank of Maharashtra (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Tirumalla India Storehouse Private Limited (Corporate Debtor/Guarantor).
The application seeks commencement of CIRP, appointment of IRP, and declaration of moratorium.
Bank of Maharashtra is the Financial Creditor, represented by its Authorised Officer Somnath Bajrang Sasane.
Tirumalla India Storehouse Private Limited is the Corporate Debtor.
The Principal Borrower, M/s Tirumalla Agro Industries Pvt. Ltd., obtained various credit facilities from Bank of Maharashtra under consortium lending.
The Corporate Debtor, Tirumalla India Storehouse Private Limited, provided a corporate guarantee for these credit facilities.
…Bank of Maharas…
Tirumalla India…