Parquet Furnishers Pvt. Ltd. filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself due to its inability to pay its debts. The Corporate Applicant defaulted on its repayment obligations to the Bank of Maharashtra, which classified the account as NPA on 12.05.2014.
Parquet Furnishers Pvt. Ltd. filed an application under Section 10 of the IBC for initiating CIRP against itself.
The Corporate Applicant defaulted on its repayment obligations to the Bank of Maharashtra.
The account of the Corporate Applicant was classified as a Non-Performing Asset (NPA) on 12.05.2014.
The Financial Creditor initiated proceedings under the SARFAESI Act, 2002 and before the Debts Recovery Tribunal to recover its dues.
The Financial Creditor admitted the existence of financial debt and default and did not object to the admission of the application.
The Corporate Applicant proposed Mr. Saurab Sharma as the Interim Resolution Professional (IRP).
The Financial Creditor proposed Mr. Abhimanyu Mittal as the IRP.
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Parquet Furnishers Pvt.…
The Corporate Applicant…
Parquet Furnishers Pvt. Ltd. filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself due to its inability to pay its debts. The Corporate Applicant defaulted on its repayment obligations to the Bank of Maharashtra, which classified the account as NPA on 12.05.2014.
Parquet Furnishers Pvt. Ltd. filed an application under Section 10 of the IBC for initiating CIRP against itself.
The Corporate Applicant defaulted on its repayment obligations to the Bank of Maharashtra.
The account of the Corporate Applicant was classified as a Non-Performing Asset (NPA) on 12.05.2014.
The Financial Creditor initiated proceedings under the SARFAESI Act, 2002 and before the Debts Recovery Tribunal to recover its dues.
The Financial Creditor admitted the existence of financial debt and default and did not object to the admission of the application.
The Corporate Applicant proposed Mr. Saurab Sharma as the Interim Resolution Professional (IRP).
The Financial Creditor proposed Mr. Abhimanyu Mittal as the IRP.
…Parquet Furnishers Pvt.…
The Corporate Applicant…