Bank of Baroda filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against OUR Co. Infrastructure Developers Pvt. Ltd due to a default of Rs. 28,79,55,488/-.
Bank of Baroda filed an application under Section 7 of the IBC to initiate CIRP against OUR Co. Infrastructure Developers Pvt. Ltd.
The Corporate Debtor defaulted on a loan of Rs. 28,79,55,488/-.
The Corporate Debtor's account was declared NPA on 31.08.2019.
The Financial Creditor sanctioned a term loan of Rs. 49,00,00,000/- on 03.09.2014.
The Corporate Debtor acknowledged the debt in its Balance Sheet.
Notice was served to the Corporate Debtor, but no one appeared on their behalf.
The Adjudicating Authority admitted the application and initiated CIRP.
Mr. Abhimanyu Mittal was appointed as the Interim Resolution Professional (IRP).
A moratorium was declared as per Section 14(1) of the IBC.
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Bank of Baroda…
Notice was issued to the Corporate Debtor to…
Bank of Baroda filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against OUR Co. Infrastructure Developers Pvt. Ltd due to a default of Rs. 28,79,55,488/-.
Bank of Baroda filed an application under Section 7 of the IBC to initiate CIRP against OUR Co. Infrastructure Developers Pvt. Ltd.
The Corporate Debtor defaulted on a loan of Rs. 28,79,55,488/-.
The Corporate Debtor's account was declared NPA on 31.08.2019.
The Financial Creditor sanctioned a term loan of Rs. 49,00,00,000/- on 03.09.2014.
The Corporate Debtor acknowledged the debt in its Balance Sheet.
Notice was served to the Corporate Debtor, but no one appeared on their behalf.
The Adjudicating Authority admitted the application and initiated CIRP.
Mr. Abhimanyu Mittal was appointed as the Interim Resolution Professional (IRP).
A moratorium was declared as per Section 14(1) of the IBC.
…Bank of Baroda…
Notice was issued to the Corporate Debtor to…