Kerala State Industrial Development Corporation Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Accurarch Acrylics Private Limited, the Corporate Debtor, due to a default on a term loan.
Kerala State Industrial Development Corporation Limited (KSIDC) filed a petition under Section 7 of the IBC against Accurarch Acrylics Private Limited.
The petition was filed on 24.06.2024.
The total amount claimed to be in default is Rs.10,06,29,063/- as on 31.05.2024.
Accurarch Acrylics Private Limited was incorporated on 18.05.2009.
KSIDC sanctioned a term loan of Rs. 290 lakhs to Accurarch Acrylics Private Limited on 10.12.2011.
The date of NPA was 28.09.2014, and the last payment was made on 28.04.2017.
The Corporate Debtor acknowledged the debt in its financial statements and through requisition letters and emails.
National E-Governance Services Ltd. (NeSL) issued a Record of Default (RoD) to the Applicant.
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A Term Loan of Rs.290…
The Financial creditor…
Kerala State Industrial Development Corporation Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Accurarch Acrylics Private Limited, the Corporate Debtor, due to a default on a term loan.
Kerala State Industrial Development Corporation Limited (KSIDC) filed a petition under Section 7 of the IBC against Accurarch Acrylics Private Limited.
The petition was filed on 24.06.2024.
The total amount claimed to be in default is Rs.10,06,29,063/- as on 31.05.2024.
Accurarch Acrylics Private Limited was incorporated on 18.05.2009.
KSIDC sanctioned a term loan of Rs. 290 lakhs to Accurarch Acrylics Private Limited on 10.12.2011.
The date of NPA was 28.09.2014, and the last payment was made on 28.04.2017.
The Corporate Debtor acknowledged the debt in its financial statements and through requisition letters and emails.
National E-Governance Services Ltd. (NeSL) issued a Record of Default (RoD) to the Applicant.
…A Term Loan of Rs.290…
The Financial creditor…