Bank of India (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Cedar Hospitality Private Limited (Corporate Debtor/Guarantor) seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had defaulted on a payment of Rs. 140,49,43,614/- as of 30.01.2025. M/s Cedar Hospitality Private Limited acted as a corporate guarantor for M/s Golf Technologies Private Limited (Principal Borrower), which defaulted on 31.03.2013, leading to its loan account being classified as NPA on 18.01.2014.
Bank of India (Financial Creditor) filed a Section 7 IBC petition against M/s Cedar Hospitality Private Limited (Corporate Debtor) on 29.04.2025.
The Corporate Debtor defaulted on a payment of Rs. 140,49,43,614/- as on 30.01.2025.
M/s Cedar Hospitality Private Limited is the Corporate Guarantor for M/s Golf Technologies Private Limited (Principal Borrower).
M/s Golf Technologies Private Limited availed financial assistance around 2013 and defaulted on 31.03.2013.
The Principal Borrower's loan account was classified as NPA on 18.01.2014, effective from 30.06.2013.
M/s Cedar Hospitality Private Limited executed a Corporate Guarantee Deed on 08.01.2013.
Bank of India issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 05.02.2014, invoking the guarantee.
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M/s Cedar Hospitality Private Limited…
M/s Golf Technologies…
Bank of India (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Cedar Hospitality Private Limited (Corporate Debtor/Guarantor) seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor had defaulted on a payment of Rs. 140,49,43,614/- as of 30.01.2025. M/s Cedar Hospitality Private Limited acted as a corporate guarantor for M/s Golf Technologies Private Limited (Principal Borrower), which defaulted on 31.03.2013, leading to its loan account being classified as NPA on 18.01.2014.
Bank of India (Financial Creditor) filed a Section 7 IBC petition against M/s Cedar Hospitality Private Limited (Corporate Debtor) on 29.04.2025.
The Corporate Debtor defaulted on a payment of Rs. 140,49,43,614/- as on 30.01.2025.
M/s Cedar Hospitality Private Limited is the Corporate Guarantor for M/s Golf Technologies Private Limited (Principal Borrower).
M/s Golf Technologies Private Limited availed financial assistance around 2013 and defaulted on 31.03.2013.
The Principal Borrower's loan account was classified as NPA on 18.01.2014, effective from 30.06.2013.
M/s Cedar Hospitality Private Limited executed a Corporate Guarantee Deed on 08.01.2013.
Bank of India issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 05.02.2014, invoking the guarantee.
…M/s Cedar Hospitality Private Limited…
M/s Golf Technologies…