National Asset Reconstruction Company Limited (NARCL), acting as a trustee, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Era Infrastructure (India) Ltd. due to default in repayment of financial debt.
National Asset Reconstruction Company Limited (NARCL) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Era Infrastructure (India) Ltd.
The application was filed due to a default in repayment of financial debt amounting to Rs. 385,38,41,870/-.
The debt comprised a principal amount of Rs. 143,75,79,510 and interest of Rs. 241,62,62,360.
Era Infrastructure (India) Ltd. is the Corporate Debtor with CIN: U45200DL2007PLC169191.
The Corporate Debtor acted as a Corporate Guarantor for Haridwar Highways Project Limited.
The financial debt was originally extended by Bank of India (BOI) and later assigned to NARCL.
The Corporate Debtor executed a Corporate Guarantee dated 29.06.2016 in favor of Bank of India.
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Corporate Guarantee dated 29.06.2016 was…
National Asset Reconstruction Company Limited (NARCL), acting as a trustee, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Era Infrastructure (India) Ltd. due to default in repayment of financial debt.
National Asset Reconstruction Company Limited (NARCL) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Era Infrastructure (India) Ltd.
The application was filed due to a default in repayment of financial debt amounting to Rs. 385,38,41,870/-.
The debt comprised a principal amount of Rs. 143,75,79,510 and interest of Rs. 241,62,62,360.
Era Infrastructure (India) Ltd. is the Corporate Debtor with CIN: U45200DL2007PLC169191.
The Corporate Debtor acted as a Corporate Guarantor for Haridwar Highways Project Limited.
The financial debt was originally extended by Bank of India (BOI) and later assigned to NARCL.
The Corporate Debtor executed a Corporate Guarantee dated 29.06.2016 in favor of Bank of India.
…Order delivered…
Corporate Guarantee dated 29.06.2016 was…