The appeal was filed by the Suspended Director of M/s Supertech Realtors Private Limited challenging the order dated 12.06.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-IV admitting Section 7 application filed by the Bank of Maharashtra.
A Term Loan of Rs.150 Crore was sanctioned by the Financial Creditor to the Corporate Debtor on 14.12.2012.
On 08.04.2022, a Section 7 application was filed by the Bank of Maharashtra against the Corporate Debtor claiming default for an amount aggregating to Rs.168,04,59,415/-.
The Corporate Debtor submitted an OTS offer dated 15.06.2022 acknowledging the debt.
The OTS was later rescinded by the Financial Creditor on account of non-adherence of terms by the Corporate Debtor.
The Adjudicating Authority admitted Section 7 application, appointed IRP and declared moratorium on 12.06.2024.
The lead bank acknowledged the OTS and Joint Lender Meeting was held on 18.03.2024 and OTS proposal was not accepted.
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A Term Loan of Rs.150 Crore was sanctioned by…
The account of the…
The appeal was filed by the Suspended Director of M/s Supertech Realtors Private Limited challenging the order dated 12.06.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-IV admitting Section 7 application filed by the Bank of Maharashtra.
A Term Loan of Rs.150 Crore was sanctioned by the Financial Creditor to the Corporate Debtor on 14.12.2012.
On 08.04.2022, a Section 7 application was filed by the Bank of Maharashtra against the Corporate Debtor claiming default for an amount aggregating to Rs.168,04,59,415/-.
The Corporate Debtor submitted an OTS offer dated 15.06.2022 acknowledging the debt.
The OTS was later rescinded by the Financial Creditor on account of non-adherence of terms by the Corporate Debtor.
The Adjudicating Authority admitted Section 7 application, appointed IRP and declared moratorium on 12.06.2024.
The lead bank acknowledged the OTS and Joint Lender Meeting was held on 18.03.2024 and OTS proposal was not accepted.
A Term Loan of Rs.150 Crore was sanctioned by…
The account of the…