Bank of India (Financial Creditor) filed a Section 7 petition under the Insolvency and Bankruptcy Code, 2016, against M/s Golf Technologies Private Limited (Corporate Debtor) for a default of Rs. 140,49,43,614/- as of January 30, 2025. The Corporate Debtor had availed financial assistance in 2013, defaulted on March 31, 2013, and its account was classified as Non-Performing Asset (NPA) on January 18, 2014. A Recovery Certificate was issued on August 29, 2017, following a Debt Recovery Tribunal (DRT) order.
Bank of India (Financial Creditor) filed a Company Petition under Section 7 of the IBC, 2016, against M/s Golf Technologies Private Limited (Corporate Debtor).
The petition was filed on 28.04.2025, alleging a default of Rs. 140,49,43,614/- as on 30.01.2025.
The Corporate Debtor availed financial assistance from Bank of India around 2013, including Fund based facilities (Working Capital Demand Loan) of Rs. 25 Crores sanctioned on 08.01.2013.
A Credit Facility Agreement and a Deed of Guarantee were executed on 08.01.2013.
The Corporate Debtor's loan was restructured on 28.06.2013, but the conditions for restructuring were not met, leading to the original default remaining.
The loan account of the Corporate Debtor was classified as NPA on 18.01.2014, effective from 30.06.2013.
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Bank of India sanctioned Fund based facilities…
The Corporate…
Bank of India (Financial Creditor) filed a Section 7 petition under the Insolvency and Bankruptcy Code, 2016, against M/s Golf Technologies Private Limited (Corporate Debtor) for a default of Rs. 140,49,43,614/- as of January 30, 2025. The Corporate Debtor had availed financial assistance in 2013, defaulted on March 31, 2013, and its account was classified as Non-Performing Asset (NPA) on January 18, 2014. A Recovery Certificate was issued on August 29, 2017, following a Debt Recovery Tribunal (DRT) order.
Bank of India (Financial Creditor) filed a Company Petition under Section 7 of the IBC, 2016, against M/s Golf Technologies Private Limited (Corporate Debtor).
The petition was filed on 28.04.2025, alleging a default of Rs. 140,49,43,614/- as on 30.01.2025.
The Corporate Debtor availed financial assistance from Bank of India around 2013, including Fund based facilities (Working Capital Demand Loan) of Rs. 25 Crores sanctioned on 08.01.2013.
A Credit Facility Agreement and a Deed of Guarantee were executed on 08.01.2013.
The Corporate Debtor's loan was restructured on 28.06.2013, but the conditions for restructuring were not met, leading to the original default remaining.
The loan account of the Corporate Debtor was classified as NPA on 18.01.2014, effective from 30.06.2013.
…Bank of India sanctioned Fund based facilities…
The Corporate…