M/s Alpha & Omega Diagnostics (India) Limited, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against itself. The company is engaged in the trading business of medical equipment used for diagnostic purposes. The application was filed after a legal notice dated 25th August, 2004, was issued under section 13(2) of the SARFAESI Act. The company had taken loan facilities from Oriental Bank of Commerce, which were later assigned to Asset Reconstruction Company of India Limited (ARCIL). ARCIL initiated recovery proceedings before the Debt Recovery Tribunal, Mumbai. The petitioner had also challenged the notice under Section 13(2) of the SARFAESI Act before the Hon'ble Court, which was
…M/s Alpha & Omega Diagnostics (India) Limited, the Corporate Debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against itself. The company is engaged in the trading business of medical equipment used for diagnostic purposes. The company had taken loan facilities from Oriental Bank of Commerce, Nepeansea Road, Mumbai. These loan facilities were initially provided by Oriental Bank of Commerce and later assigned to Asset Reconstruction Company of India Limited (ARCIL). A legal notice dated 25th August, 2004, was issued under section 13(2) of the SARFAESI Act. The debt as acknowledged in the Form submitted by the Debtor amounted to Rs. 4,43,70,739/-. The bank had granted Loan
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M/s Alpha & Omega Diagnostics (India) Limited, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against itself. The company is engaged in the trading business of medical equipment used for diagnostic purposes. The application was filed after a legal notice dated 25th August, 2004, was issued under section 13(2) of the SARFAESI Act. The company had taken loan facilities from Oriental Bank of Commerce, which were later assigned to Asset Reconstruction Company of India Limited (ARCIL). ARCIL initiated recovery proceedings before the Debt Recovery Tribunal, Mumbai. The petitioner had also challenged the notice under Section 13(2) of the SARFAESI Act before the Hon'ble Court, which was
…M/s Alpha & Omega Diagnostics (India) Limited, the Corporate Debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against itself. The company is engaged in the trading business of medical equipment used for diagnostic purposes. The company had taken loan facilities from Oriental Bank of Commerce, Nepeansea Road, Mumbai. These loan facilities were initially provided by Oriental Bank of Commerce and later assigned to Asset Reconstruction Company of India Limited (ARCIL). A legal notice dated 25th August, 2004, was issued under section 13(2) of the SARFAESI Act. The debt as acknowledged in the Form submitted by the Debtor amounted to Rs. 4,43,70,739/-. The bank had granted Loan
…A legal notice was…
The debt was assigned to…