Bank of India Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Gajanan Agro Farms Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to default in repayment of loans.
Bank of India Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
Shree Gajanan Agro Farms Private Limited is the Corporate Debtor.
The Corporate Debtor defaulted in repaying ₹19,19,35,805.66 as on 31.03.2015.
The Corporate Debtor approached the Financial Creditor on 21.08.2012 for financial assistance.
The Financial Creditor sanctioned a loan of ₹5,46,00,000 for mango plantation and ₹64,00,000 as crop cash credit loan on 24.12.2012.
The Financial Creditor provided a short-term loan of ₹3,00,00,000 for trading mango on 20.05.2014.
The Corporate Debtor's account was declared as NPA on 31.03.2015.
The Financial Creditor issued a recall notice dated 29.05.2017 to the Corporate Debtor.
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Corporate Debtor…
Financial Creditor sanctioned a loan of…
Bank of India Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Gajanan Agro Farms Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to default in repayment of loans.
Bank of India Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
Shree Gajanan Agro Farms Private Limited is the Corporate Debtor.
The Corporate Debtor defaulted in repaying ₹19,19,35,805.66 as on 31.03.2015.
The Corporate Debtor approached the Financial Creditor on 21.08.2012 for financial assistance.
The Financial Creditor sanctioned a loan of ₹5,46,00,000 for mango plantation and ₹64,00,000 as crop cash credit loan on 24.12.2012.
The Financial Creditor provided a short-term loan of ₹3,00,00,000 for trading mango on 20.05.2014.
The Corporate Debtor's account was declared as NPA on 31.03.2015.
The Financial Creditor issued a recall notice dated 29.05.2017 to the Corporate Debtor.
…Corporate Debtor…
Financial Creditor sanctioned a loan of…