HDFC Bank Limited, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC/Code) for initiation of Corporate Insolvency Resolution Process (CIRP) in respect of Dhanlaxmi Electricals Private Limited, the Corporate Debtor (CD), for an alleged default of Rs.9,60,86,480.83/-.
HDFC Bank Limited filed an application under Section 7 of the IBC to initiate CIRP against Dhanlaxmi Electricals Private Limited.
The alleged default amount is Rs.9,60,86,480.83/-.
The Corporate Debtor (CD) availed vehicle loan facilities under various loan accounts and categories.
The Loan Agreements were dated 06.03.2021; 24.03.2021; 25.10.2021; and 04.12.2021.
The Financial Creditor (FC) recalled all the sanctioned facilities vide recall notice dated 11.06.2024.
The accounts of the Corporate Debtor (CD) were declared as Non-Performing Assets (NPA) on 03.01.2023.
The Corporate Debtor (CD) contended that the application was defective and filled with inconsistencies.
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Loan Agreemen…
Loan Agreemen…
HDFC Bank Limited, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC/Code) for initiation of Corporate Insolvency Resolution Process (CIRP) in respect of Dhanlaxmi Electricals Private Limited, the Corporate Debtor (CD), for an alleged default of Rs.9,60,86,480.83/-.
HDFC Bank Limited filed an application under Section 7 of the IBC to initiate CIRP against Dhanlaxmi Electricals Private Limited.
The alleged default amount is Rs.9,60,86,480.83/-.
The Corporate Debtor (CD) availed vehicle loan facilities under various loan accounts and categories.
The Loan Agreements were dated 06.03.2021; 24.03.2021; 25.10.2021; and 04.12.2021.
The Financial Creditor (FC) recalled all the sanctioned facilities vide recall notice dated 11.06.2024.
The accounts of the Corporate Debtor (CD) were declared as Non-Performing Assets (NPA) on 03.01.2023.
The Corporate Debtor (CD) contended that the application was defective and filled with inconsistencies.
…Loan Agreemen…
Loan Agreemen…