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, a Financial Creditor, filed a petition under Section 7 of the IBC against M/S. Abhinav International Private Limited, the Corporate Debtor.
The application was filed on 13.05.2024 based on the Corporate Debtor's default in payment of Rs. 189,18,63,774/- principal and total default of Rs. 379,16,21,684/-.
The Corporate Debtor acted as a Corporate Guarantor for loan facilities extended to the Principal Borrower, 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 against the Principal Borrower and Corporate Guarantors.
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Account of Pr…
SARFAESI notice issued under Section 13(2)…
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, a Financial Creditor, filed a petition under Section 7 of the IBC against M/S. Abhinav International Private Limited, the Corporate Debtor.
The application was filed on 13.05.2024 based on the Corporate Debtor's default in payment of Rs. 189,18,63,774/- principal and total default of Rs. 379,16,21,684/-.
The Corporate Debtor acted as a Corporate Guarantor for loan facilities extended to the Principal Borrower, 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 against the Principal Borrower and Corporate Guarantors.
…Account of Pr…
SARFAESI notice issued under Section 13(2)…