UCO Bank filed appeals against orders passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dismissing their applications under Section 7 of the IBC against corporate guarantors of Ankit Metal & Power Ltd.
UCO Bank (Financial Creditor) filed applications under Section 7 of the IBC against the Corporate Guarantors of Ankit Metal & Power Ltd. for initiation of Insolvency Process.
The Adjudicating Authority dismissed the applications filed by UCO Bank on the grounds of limitation.
Ankit Metal and Power Ltd. (Principal Borrower) had entered into an agreement with UCO Bank for working capital facilities.
The account of the Principal Borrower was classified as NPA on 28.08.2014.
The Principal Borrower executed a letter of revival on 11.08.2017 and acknowledged its debt towards the consortium lenders.
The Principal Borrower was admitted into CIRP vide order dated 20.12.2023.
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Orders passed by the Adjudicating Authority…
Master Restructuring Agreement (MRA) was…
UCO Bank filed appeals against orders passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dismissing their applications under Section 7 of the IBC against corporate guarantors of Ankit Metal & Power Ltd.
UCO Bank (Financial Creditor) filed applications under Section 7 of the IBC against the Corporate Guarantors of Ankit Metal & Power Ltd. for initiation of Insolvency Process.
The Adjudicating Authority dismissed the applications filed by UCO Bank on the grounds of limitation.
Ankit Metal and Power Ltd. (Principal Borrower) had entered into an agreement with UCO Bank for working capital facilities.
The account of the Principal Borrower was classified as NPA on 28.08.2014.
The Principal Borrower executed a letter of revival on 11.08.2017 and acknowledged its debt towards the consortium lenders.
The Principal Borrower was admitted into CIRP vide order dated 20.12.2023.
…Orders passed by the Adjudicating Authority…
Master Restructuring Agreement (MRA) was…