ICICI Bank filed an appeal against the order dated 23.04.2024 passed by the National Company Law Tribunal, Kolkata Bench, Kolkata, in IA (I.B.C)/548(KB)2024 and in IA (I.B.C)/2093(KB)2023 in С.Р. (IB)/1382(KB)2020. The appellant, ICICI Bank, sought to be classified as a secured financial creditor.
Darjeeling Organic Tea Limited approached ICICI Bank for non-fund based facilities, which were extended by the bank against fixed deposits.
On 31.07.2021, the corporate debtor approached the bank for an overdraft facility of ₹1,00,00,000/-, which was extended against cash collateral of fixed deposit of ₹1,06,00,000/-.
Corporate Insolvency Resolution Process (CIRP) against the corporate debtor commenced on 28.10.2022 by order passed by NCLT Kolkata.
ICICI Bank filed its claim on 03.01.2024 in ‘Form–C' as a financial creditor, claiming to be a secured creditor for an amount of ₹99,36,968.09/- as on 28.10.2022.
The RP requested ICICI Bank to transfer the credit balance in any account maintained in the bank of the corporate debtor.
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Order passed by the adjudicating authority…
Corporate Insolvency…
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ICICI Bank filed an appeal against the order dated 23.04.2024 passed by the National Company Law Tribunal, Kolkata Bench, Kolkata, in IA (I.B.C)/548(KB)2024 and in IA (I.B.C)/2093(KB)2023 in С.Р. (IB)/1382(KB)2020. The appellant, ICICI Bank, sought to be classified as a secured financial creditor.
Darjeeling Organic Tea Limited approached ICICI Bank for non-fund based facilities, which were extended by the bank against fixed deposits.
On 31.07.2021, the corporate debtor approached the bank for an overdraft facility of ₹1,00,00,000/-, which was extended against cash collateral of fixed deposit of ₹1,06,00,000/-.
Corporate Insolvency Resolution Process (CIRP) against the corporate debtor commenced on 28.10.2022 by order passed by NCLT Kolkata.
ICICI Bank filed its claim on 03.01.2024 in ‘Form–C' as a financial creditor, claiming to be a secured creditor for an amount of ₹99,36,968.09/- as on 28.10.2022.
The RP requested ICICI Bank to transfer the credit balance in any account maintained in the bank of the corporate debtor.
…Order passed by the adjudicating authority…
Corporate Insolvency…
Sign in to view related legal provisions.