The Financial Creditor, IDBI Bank Ltd., appealed against a blanket concession order passed by the Adjudicating Authority in an application filed by the Successful Auction Purchaser in a liquidation proceeding.
IDBI Bank Ltd. advanced loans of approximately Rs. 428 Crores to Silver Stallion Ltd.
Silver Stallion Ltd. went into liquidation pursuant to the orders of the Adjudicating Authority.
The assets of Silver Stallion Ltd. were auctioned, and the appellant was paid around Rs. 7 Crores against its claims.
The Successful Auction Purchaser sought 21 concessions from the Adjudicating Authority, with concession S No. 17 being critical.
The Adjudicating Authority's order required de-classification of the Corporate Debtor's account from NPA to standard amount.
IDBI Bank Ltd. issued a NOC dated 19.04.2025 after discharging its charge over the secured assets.
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The Financial Creditor, IDBI Bank Ltd., appealed against a blanket concession order passed by the Adjudicating Authority in an application filed by the Successful Auction Purchaser in a liquidation proceeding.
IDBI Bank Ltd. advanced loans of approximately Rs. 428 Crores to Silver Stallion Ltd.
Silver Stallion Ltd. went into liquidation pursuant to the orders of the Adjudicating Authority.
The assets of Silver Stallion Ltd. were auctioned, and the appellant was paid around Rs. 7 Crores against its claims.
The Successful Auction Purchaser sought 21 concessions from the Adjudicating Authority, with concession S No. 17 being critical.
The Adjudicating Authority's order required de-classification of the Corporate Debtor's account from NPA to standard amount.
IDBI Bank Ltd. issued a NOC dated 19.04.2025 after discharging its charge over the secured assets.
The date on which the…
Date on which I…
Sign in to view related legal provisions.