The case pertains to an application filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against BGR Energy Systems Limited due to a default amount of Rs. 584,67,81,149/- as of 31.08.2024. National Asset Reconstruction Company Limited (NARCL) was later substituted as the Financial Creditor in place of Canara Bank.
Canara Bank initially filed a petition under Section 7 of the IBC against BGR Energy Systems Limited.
The default amount claimed was Rs. 584,67,81,149/- as of 31.08.2024.
NARCL was substituted as the Financial Creditor in place of Canara Bank via IA 366/2025.
The Corporate Debtor's accounts were classified as NPA with effect from 30.06.2022.
The Corporate Debtor challenged the NPA classification before the High Court of Andhra Pradesh.
The Financial Creditor submitted a Record of Default (RoD) issued by NeSL.
The Financial Creditor also submitted a certificate under Section 2(A) of the Bankers' Books of Evidence Act, 1891.
Mr. Dommeti Surya Rama Krishna Saibaba was proposed as the Interim Resolution Professional (IRP).
Sign in to view the parties.
The instant Pet…
Joint Assignment Agreement dated 29.09.2025…
The case pertains to an application filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against BGR Energy Systems Limited due to a default amount of Rs. 584,67,81,149/- as of 31.08.2024. National Asset Reconstruction Company Limited (NARCL) was later substituted as the Financial Creditor in place of Canara Bank.
Canara Bank initially filed a petition under Section 7 of the IBC against BGR Energy Systems Limited.
The default amount claimed was Rs. 584,67,81,149/- as of 31.08.2024.
NARCL was substituted as the Financial Creditor in place of Canara Bank via IA 366/2025.
The Corporate Debtor's accounts were classified as NPA with effect from 30.06.2022.
The Corporate Debtor challenged the NPA classification before the High Court of Andhra Pradesh.
The Financial Creditor submitted a Record of Default (RoD) issued by NeSL.
The Financial Creditor also submitted a certificate under Section 2(A) of the Bankers' Books of Evidence Act, 1891.
Mr. Dommeti Surya Rama Krishna Saibaba was proposed as the Interim Resolution Professional (IRP).
The instant Pet…
Joint Assignment Agreement dated 29.09.2025…