The Hongkong And Shanghai Banking Corporation Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Sanghvi Beauty & Technologies Private Limited, seeking commencement of CIRP, appointment of IRP, and declaration of moratorium.
The Hongkong And Shanghai Banking Corporation Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Sanghvi Beauty & Technologies Private Limited, defaulted on 24.12.2024.
The amount in default was Rs. 42,62,20,059.17.
The Applicant issued a demand notice dated 09.01.2025.
The Corporate Debtor's accounts were declared NPA on 24.03.2025.
The outstanding amount claimed by the Applicant was Rs. 16,49,73,642.31 as on 30.04.2025.
The Corporate Debtor created securities in favor of the Applicant, including Deposit Under Lien (DUL) and Unattested Deed of Hypothecation.
The Corporate Debtor raised a technical objection regarding the authority of the person who executed the application.
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The Corporate…
The Applicant…
The Hongkong And Shanghai Banking Corporation Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Sanghvi Beauty & Technologies Private Limited, seeking commencement of CIRP, appointment of IRP, and declaration of moratorium.
The Hongkong And Shanghai Banking Corporation Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
The Corporate Debtor, Sanghvi Beauty & Technologies Private Limited, defaulted on 24.12.2024.
The amount in default was Rs. 42,62,20,059.17.
The Applicant issued a demand notice dated 09.01.2025.
The Corporate Debtor's accounts were declared NPA on 24.03.2025.
The outstanding amount claimed by the Applicant was Rs. 16,49,73,642.31 as on 30.04.2025.
The Corporate Debtor created securities in favor of the Applicant, including Deposit Under Lien (DUL) and Unattested Deed of Hypothecation.
The Corporate Debtor raised a technical objection regarding the authority of the person who executed the application.
…The Corporate…
The Applicant…