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 Haridwar Highways Project Limited 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 Haridwar Highways Project Limited.
The Corporate Debtor defaulted on a financial debt of INR 2386,51,75,911/-.
The Financial Creditor, NARCL, acquired the debt from a consortium of lenders via an assignment agreement dated 28.03.2024.
The Corporate Debtor entered into a Concession Agreement with the National Highways Authority of India (NHAI) for a highway project.
The Corporate Debtor's account was classified as NPA on 24.02.2017.
The Corporate Debtor acknowledged its liability under Term Loans I, II, and III in a letter dated 23.09.2021 and in its annual financial statements for 2019-2022.
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Haridwar Hi…
Haridwar Highways…
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 Haridwar Highways Project Limited 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 Haridwar Highways Project Limited.
The Corporate Debtor defaulted on a financial debt of INR 2386,51,75,911/-.
The Financial Creditor, NARCL, acquired the debt from a consortium of lenders via an assignment agreement dated 28.03.2024.
The Corporate Debtor entered into a Concession Agreement with the National Highways Authority of India (NHAI) for a highway project.
The Corporate Debtor's account was classified as NPA on 24.02.2017.
The Corporate Debtor acknowledged its liability under Term Loans I, II, and III in a letter dated 23.09.2021 and in its annual financial statements for 2019-2022.
…Haridwar Hi…
Haridwar Highways…