Bharat Capital and Holdings Limited (Corporate Debtor/Applicant) filed an application under Section 10 of the IBC, 2016, seeking to initiate its Corporate Insolvency Resolution Process (CIRP). The application was necessitated by the company's severe financial stress, rendering it unable to meet its debt obligations to both a Financial Creditor and the Income Tax Department (Operational Creditor).
Bharat Capital and Holdings Limited (Corporate Debtor/Applicant) filed an application under Section 10 of the IBC, 2016, seeking initiation of its Corporate Insolvency Resolution Process (CIRP).
The application is due to the Corporate Applicant's financial stress and inability to repay its debts.
The Corporate Applicant was incorporated on 04.02.1991 and operates as a financier.
It availed an unsecured loan of Rs. 7,50,00,000/- from a Financial Creditor.
The Corporate Applicant repaid Rs. 1,06,00,000/- and Rs. 2,03,43,200/-, leaving an outstanding balance of Rs. 4,40,56,800/- to the Financial Creditor.
The date of default to the Financial Creditor is 31.03.2021.
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Bharat Capital and…
Date of default to the…
Bharat Capital and Holdings Limited (Corporate Debtor/Applicant) filed an application under Section 10 of the IBC, 2016, seeking to initiate its Corporate Insolvency Resolution Process (CIRP). The application was necessitated by the company's severe financial stress, rendering it unable to meet its debt obligations to both a Financial Creditor and the Income Tax Department (Operational Creditor).
Bharat Capital and Holdings Limited (Corporate Debtor/Applicant) filed an application under Section 10 of the IBC, 2016, seeking initiation of its Corporate Insolvency Resolution Process (CIRP).
The application is due to the Corporate Applicant's financial stress and inability to repay its debts.
The Corporate Applicant was incorporated on 04.02.1991 and operates as a financier.
It availed an unsecured loan of Rs. 7,50,00,000/- from a Financial Creditor.
The Corporate Applicant repaid Rs. 1,06,00,000/- and Rs. 2,03,43,200/-, leaving an outstanding balance of Rs. 4,40,56,800/- to the Financial Creditor.
The date of default to the Financial Creditor is 31.03.2021.
…Bharat Capital and…
Date of default to the…