The case involves an I.B. Petition filed by Dena Bank (now Bank of Baroda) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Alps Pharmaceuticals Private Limited. The petition arises from the Corporate Debtor's default in repaying loan/CC facilities availed from the Bank. Dena Bank, the Applicant, is incorporated under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. The application was filed by Shri Arvindkumar Purushottamdas Parmar, Chief Manager at Dena Bank.
Dena Bank (now Bank of Baroda) filed an I.B. Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Alps Pharmaceuticals Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to default in loan repayment. Alps Pharmaceuticals Private Limited was incorporated on 16/04/1980. The nominal share capital of the Respondent (CD) Company is Rs.1,50,00,000/- and the paid-up capital is Rs.1,09,28,800/-. The company manufactures injections and tablets. The petitioner Bank sanctioned total aggregate facilities of Rs.29,50,00,000/- on 29/04/2013. The Corporate-Debtor defaulted payment on 12/08/2015. The Financial Creditor filed an IA for substituting the name of Dena Bank with Bank of Baroda due to amalgamation. The
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The case involves an I.B. Petition filed by Dena Bank (now Bank of Baroda) under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Alps Pharmaceuticals Private Limited. The petition arises from the Corporate Debtor's default in repaying loan/CC facilities availed from the Bank. Dena Bank, the Applicant, is incorporated under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. The application was filed by Shri Arvindkumar Purushottamdas Parmar, Chief Manager at Dena Bank.
Dena Bank (now Bank of Baroda) filed an I.B. Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Alps Pharmaceuticals Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP) due to default in loan repayment. Alps Pharmaceuticals Private Limited was incorporated on 16/04/1980. The nominal share capital of the Respondent (CD) Company is Rs.1,50,00,000/- and the paid-up capital is Rs.1,09,28,800/-. The company manufactures injections and tablets. The petitioner Bank sanctioned total aggregate facilities of Rs.29,50,00,000/- on 29/04/2013. The Corporate-Debtor defaulted payment on 12/08/2015. The Financial Creditor filed an IA for substituting the name of Dena Bank with Bank of Baroda due to amalgamation. The
…Alps Pharmaceuticals…
The petitioner Bank…
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