Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Karanja Terminal & Logistics Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The application was based on a default of INR 330,40,24,498.23 as of 30.08.2024, with the date of default being 11.06.2021.
Canara Bank filed an application under Section 7 of the IBC against Karanja Terminal & Logistics Private Limited.
The amount claimed to be in default is INR 330,40,24,498.23 as on 30.08.2024.
The date of default is stated as 11.06.2021 under the One-Time Restructuring (OTR).
The Corporate Debtor requested for One Time Restructuring (OTR) under Resolution Framework for COVID-19 related Stress.
The Corporate Debtor had approached the Applicant and requested to grant Financial Facilities.
The Corporate Debtor entered into a Common Loan Agreement dated 28 February 2014 with the Lenders for securing the loan amount of Rs. 480,00,00,000/-.
The Corporate Debtor submitted a proposal for One Time Settlement (OTS) for a total consideration of Rs. 430 Crores.
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Corporate Debtor…
Framework Agreement executed between the…
Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Karanja Terminal & Logistics Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The application was based on a default of INR 330,40,24,498.23 as of 30.08.2024, with the date of default being 11.06.2021.
Canara Bank filed an application under Section 7 of the IBC against Karanja Terminal & Logistics Private Limited.
The amount claimed to be in default is INR 330,40,24,498.23 as on 30.08.2024.
The date of default is stated as 11.06.2021 under the One-Time Restructuring (OTR).
The Corporate Debtor requested for One Time Restructuring (OTR) under Resolution Framework for COVID-19 related Stress.
The Corporate Debtor had approached the Applicant and requested to grant Financial Facilities.
The Corporate Debtor entered into a Common Loan Agreement dated 28 February 2014 with the Lenders for securing the loan amount of Rs. 480,00,00,000/-.
The Corporate Debtor submitted a proposal for One Time Settlement (OTS) for a total consideration of Rs. 430 Crores.
…Corporate Debtor…
Framework Agreement executed between the…