Religare Enterprises Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ligare Aviation Ltd. due to a financial default of Rs. 5,87,27,454/-.
Religare Enterprises Ltd. (REL) filed an application on 18.01.2021 under Section 7 of the IBC to initiate CIRP against Ligare Aviation Ltd.
The alleged financial default amounted to Rs. 5,87,27,454/- as of 15.01.2021.
The Respondent/Corporate Debtor was incorporated on 23.09.1996.
Religare Arts Investment Management Ltd. (RAIML) disbursed unsecured loans to Ligare Aviation Ltd. between 01.04.2009 and 09.09.2016.
RAIML and Religare Enterprises Ltd. underwent amalgamation, transferring RAIML's assets and liabilities to Religare Enterprises Ltd.
The Respondent/Corporate Debtor acknowledged the financial debt in its standalone financial statements for the period 01.04.2019 to 31.03.2020.
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Religare Enterprises…
The Adjudicating Authority admitted the…
Religare Enterprises Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ligare Aviation Ltd. due to a financial default of Rs. 5,87,27,454/-.
Religare Enterprises Ltd. (REL) filed an application on 18.01.2021 under Section 7 of the IBC to initiate CIRP against Ligare Aviation Ltd.
The alleged financial default amounted to Rs. 5,87,27,454/- as of 15.01.2021.
The Respondent/Corporate Debtor was incorporated on 23.09.1996.
Religare Arts Investment Management Ltd. (RAIML) disbursed unsecured loans to Ligare Aviation Ltd. between 01.04.2009 and 09.09.2016.
RAIML and Religare Enterprises Ltd. underwent amalgamation, transferring RAIML's assets and liabilities to Religare Enterprises Ltd.
The Respondent/Corporate Debtor acknowledged the financial debt in its standalone financial statements for the period 01.04.2019 to 31.03.2020.
…Religare Enterprises…
The Adjudicating Authority admitted the…