Corporate Action5 May 2025, 05:32 pm
A.F. Enterprises Ltd Faces Corporate Insolvency Resolution Process After Defaulting on Loan Payment
AI Summary
A.F. Enterprises Ltd has been admitted for Corporate Insolvency Resolution Process (CIRP) by the National Company Law Tribunal (NCLT), New Delhi Bench, after defaulting on a loan payment of Rs. 2,44,19,528 to Findoc Finvest Private Limited. The loan was taken for a period of 12 months at the rate of 12% per annum. The first date of default occurred on 01.05.2022. The Corporate Debtor has failed to respond to the Demand Notice dated 07.07.2023 issued by the Financial Creditor.
Key Highlights
- A.F. Enterprises Ltd has been admitted for CIRP by the NCLT, New Delhi Bench.
- The company has defaulted on a loan payment of Rs. 2,44,19,528 to Findoc Finvest Private Limited.
- The loan was taken for a period of 12 months at the rate of 12% per annum.
- The first date of default occurred on 01.05.2022.
- The Corporate Debtor has failed to respond to the Demand Notice dated 07.07.2023 issued by the Financial Creditor.
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