The case involves a petition filed by Central Bank of India, a Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited, the Corporate Debtor.
Central Bank of India filed a petition under Section 7 of the IBC to initiate CIRP against M/s. Hanung Furnishing Private Limited.
The Corporate Debtor defaulted on a principal amount of Rs. 189,18,63,774/- and including interest the total amount of default is Rs. 379,16,21,684/-.
Central Bank of India is a financial institution constituted under The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.
M/s. Hanung Furnishing Private Limited is a Corporate Guarantor for 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 Section 13(2) SARFAESI Act notice was issued on 17.10.2015 against the Principal Borrower and Corporate Guarantors.
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The present application…
Order Deliver…
The case involves a petition filed by Central Bank of India, a Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited, the Corporate Debtor.
Central Bank of India filed a petition under Section 7 of the IBC to initiate CIRP against M/s. Hanung Furnishing Private Limited.
The Corporate Debtor defaulted on a principal amount of Rs. 189,18,63,774/- and including interest the total amount of default is Rs. 379,16,21,684/-.
Central Bank of India is a financial institution constituted under The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.
M/s. Hanung Furnishing Private Limited is a Corporate Guarantor for 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 Section 13(2) SARFAESI Act notice was issued on 17.10.2015 against the Principal Borrower and Corporate Guarantors.
…The present application…
Order Deliver…