JM Financial Credit Solutions Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against R.M. Bhuther and Company Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP).
JM Financial Credit Solutions Limited, a Non-Banking Financial Company, filed an application against R.M. Bhuther and Company Limited under Section 7 of the IBC.
The amount claimed to be in default is INR 332,80,53,230/-, with the date of default stated as 17th August, 2023.
JM Financial Credit Solutions Limited had sanctioned six Loan Facilities aggregating to INR 288.20 crores to M/s. HEM Bhattad, an Association of Persons (‘AOP') which includes the Corporate Debtor.
The Corporate Debtor executed corporate guarantees in favor of the Financial Creditor for securing the loan facilities.
The Borrower committed defaults in terms of the Loan Agreements, including failure to pay installments and interest.
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JM Financial Credit Solutions Limited filed…
The date of de…
JM Financial Credit Solutions Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against R.M. Bhuther and Company Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP).
JM Financial Credit Solutions Limited, a Non-Banking Financial Company, filed an application against R.M. Bhuther and Company Limited under Section 7 of the IBC.
The amount claimed to be in default is INR 332,80,53,230/-, with the date of default stated as 17th August, 2023.
JM Financial Credit Solutions Limited had sanctioned six Loan Facilities aggregating to INR 288.20 crores to M/s. HEM Bhattad, an Association of Persons (‘AOP') which includes the Corporate Debtor.
The Corporate Debtor executed corporate guarantees in favor of the Financial Creditor for securing the loan facilities.
The Borrower committed defaults in terms of the Loan Agreements, including failure to pay installments and interest.
…JM Financial Credit Solutions Limited filed…
The date of de…