The case involves an application filed by Asset Reconstruction Company (India) Limited (Applicant) against the rejection of its claim by the Liquidator in the matter of M/s. Boss Profiles Limited. Initially, M/s. Boss Profiles Limited owed ₹42,08,86,784 to Bank of India and Indian Overseas Bank as of 2009-03-31. Indian Overseas Bank and Bank of India assigned their debts to the Applicant in 2008. Subsequently, the Applicant entered into an agreement with M/s. Poddar Projects Limited for the takeover of this debt. However, since full payment from Poddar Projects Limited did not materialize, the Applicant approached DRT-I for substitution, which was dismissed. The Applicant then approached DRAT, which also dismissed the appeal. The Applicant then filed a Writ Petition
…M/s. Boss Profiles Limited initially owed ₹42,08,86,784 to Bank of India and Indian Overseas Bank as of 2009-03-31. Indian Overseas Bank assigned its debt to Asset Reconstruction Company (India) Limited (Applicant) on 2008-03-19, and Bank of India assigned its debt to the Applicant on 2008-03-31. The Applicant then entered into an agreement with M/s. Poddar Projects Limited on 2009-07-29 for the takeover of this debt. Since full payment from Poddar Projects Limited did not materialize, the Applicant approached DRT-I on 2013-04-11 for substitution, which was dismissed. DRAT also dismissed the appeal on 2017-01-06. The High Court of Madras dismissed the Writ Petition filed by the Applicant on 2018-07-09. The Supreme Court of India also dismissed the appeal. The Applicant
…Sign in to view the parties.
M/s. Boss Profiles…
Indian Overseas Bank…
The case involves an application filed by Asset Reconstruction Company (India) Limited (Applicant) against the rejection of its claim by the Liquidator in the matter of M/s. Boss Profiles Limited. Initially, M/s. Boss Profiles Limited owed ₹42,08,86,784 to Bank of India and Indian Overseas Bank as of 2009-03-31. Indian Overseas Bank and Bank of India assigned their debts to the Applicant in 2008. Subsequently, the Applicant entered into an agreement with M/s. Poddar Projects Limited for the takeover of this debt. However, since full payment from Poddar Projects Limited did not materialize, the Applicant approached DRT-I for substitution, which was dismissed. The Applicant then approached DRAT, which also dismissed the appeal. The Applicant then filed a Writ Petition
…M/s. Boss Profiles Limited initially owed ₹42,08,86,784 to Bank of India and Indian Overseas Bank as of 2009-03-31. Indian Overseas Bank assigned its debt to Asset Reconstruction Company (India) Limited (Applicant) on 2008-03-19, and Bank of India assigned its debt to the Applicant on 2008-03-31. The Applicant then entered into an agreement with M/s. Poddar Projects Limited on 2009-07-29 for the takeover of this debt. Since full payment from Poddar Projects Limited did not materialize, the Applicant approached DRT-I on 2013-04-11 for substitution, which was dismissed. DRAT also dismissed the appeal on 2017-01-06. The High Court of Madras dismissed the Writ Petition filed by the Applicant on 2018-07-09. The Supreme Court of India also dismissed the appeal. The Applicant
…M/s. Boss Profiles…
Indian Overseas Bank…