Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/S. Abhinav International Private Limited, based on a corporate guarantee.
Central Bank of India filed a Section 7 application against M/S. Abhinav International Private Limited.
The application was filed on 13.05.2024.
The Corporate Debtor defaulted on a principal amount of Rs. 189,18,63,774/- plus interest, totaling Rs. 379,16,21,684/-.
M/S. Abhinav International Private Limited is a Corporate Guarantor for the loan facilities extended to M/s. Hanung Toys & Textile Limited.
The account of the Principal Borrower was classified as NPA on 19.08.2013.
A SARFAESI notice under Section 13(2) was issued on 17.10.2015.
The CIRP of the Principal Borrower commenced on 28.03.2019.
The Resolution Professional published the list of creditors of the Principal Borrower on 31.03.2019, 15.10.2022, and 28.02.2024, including Central Bank of India.
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The present application…
Order Deliver…
Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/S. Abhinav International Private Limited, based on a corporate guarantee.
Central Bank of India filed a Section 7 application against M/S. Abhinav International Private Limited.
The application was filed on 13.05.2024.
The Corporate Debtor defaulted on a principal amount of Rs. 189,18,63,774/- plus interest, totaling Rs. 379,16,21,684/-.
M/S. Abhinav International Private Limited is a Corporate Guarantor for the loan facilities extended to M/s. Hanung Toys & Textile Limited.
The account of the Principal Borrower was classified as NPA on 19.08.2013.
A SARFAESI notice under Section 13(2) was issued on 17.10.2015.
The CIRP of the Principal Borrower commenced on 28.03.2019.
The Resolution Professional published the list of creditors of the Principal Borrower on 31.03.2019, 15.10.2022, and 28.02.2024, including Central Bank of India.
…The present application…
Order Deliver…