The 'Bank of India' filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating ‘Corporate Insolvency Resolution Process' against ‘B.E. Billimoria & Company Limited'. The NCLAT appeal was filed against the order. During the proceedings, the Appellant expressed readiness for an amicable settlement with 'Bank of India'. Terms of Settlement were reached, and the Appellant filed the 'Terms of Settlement' and a related letter.
The 'Bank of India' initiated Corporate Insolvency Resolution Process (CIRP) against ‘B.E. Billimoria & Company Limited' under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, approved the initiation. The Appellant appealed the order. During the appeal, the Appellant expressed willingness for an amicable settlement with the 'Bank of India'. Terms of Settlement were reached, and the Appellant filed the 'Terms of Settlement' and a letter dated 1st November, 2019, outlining the terms of the One Time Settlement (OTS). The OTS involved a payment of Rs. 107.50 crore with specific payment schedules and interest rates. The OTS was subject to various conditions, including the submission of
…Sign in to view the parties.
The 'Bank of India' filed an application under…
The Adjudicating Authority initiated ‘Corporate…
The 'Bank of India' filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating ‘Corporate Insolvency Resolution Process' against ‘B.E. Billimoria & Company Limited'. The NCLAT appeal was filed against the order. During the proceedings, the Appellant expressed readiness for an amicable settlement with 'Bank of India'. Terms of Settlement were reached, and the Appellant filed the 'Terms of Settlement' and a related letter.
The 'Bank of India' initiated Corporate Insolvency Resolution Process (CIRP) against ‘B.E. Billimoria & Company Limited' under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, approved the initiation. The Appellant appealed the order. During the appeal, the Appellant expressed willingness for an amicable settlement with the 'Bank of India'. Terms of Settlement were reached, and the Appellant filed the 'Terms of Settlement' and a letter dated 1st November, 2019, outlining the terms of the One Time Settlement (OTS). The OTS involved a payment of Rs. 107.50 crore with specific payment schedules and interest rates. The OTS was subject to various conditions, including the submission of
…The 'Bank of India' filed an application under…
The Adjudicating Authority initiated ‘Corporate…