CIRP against Karanja Terminal & Logistics Pvt. Ltd. admitted as debt and default proved

Canara Bank Vs Karanja Terminal & Logistics Private Limited (NCLT Mumbai)

NCLT Mumbai held that the Karanja Terminal & Logistics Private Limited [Corporate Debtor] has committed a default in repaying the financial debt to the Financial Creditor for a sum well beyond rupees one crores. Thus, application u/s. 7 of IBC for initiation of CIRP admitted.

Facts- This is an application filed by the Applicant- Canara Bank (Financial Creditor/the Petitioner), on 27.09.2024 against the Respondent-Karanja Terminal & Logistics Private Limited (Corporate Debt

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