The case involves an I.B. Petition preferred by the Financial-Creditor, Punjab National Bank, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate-Insolvency-Resolution-Process (CIRP) in respect of the Corporate-Debtor-Company, Goel Agrigreen Fields Pvt. Ltd. The petition was filed due to the corporate debtor's default on its debt obligations to the bank.
Punjab National Bank filed an I.B. Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Goel Agrigreen Fields Pvt. Ltd. The bank sought initiation of the Corporate-Insolvency-Resolution-Process (CIRP) due to the corporate debtor's default. Goel Agrigreen Fields Pvt. Ltd. was incorporated on 13.09.2006 with the CIN: U15400MP2006PTC018959 to establish a grain-based distillery and bottling plant. The nominal share capital of the Corporate-Debtor-Company is Rs.21,50,00,000/- and the paid-up share capital is Rs.21,38,33,390/-. The Creditor Bank classified the account of the Respondent Company as "Non Performing Account (NPA)" on 31.03.2016. The Applicant Bank issued a notice under Section 13(2) of the SARFAESI Act on 15.07.2016, demanding
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Goel Agrigreen Fields Pvt. Ltd. was…
Creditor Bank classified the account of the…
The case involves an I.B. Petition preferred by the Financial-Creditor, Punjab National Bank, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate-Insolvency-Resolution-Process (CIRP) in respect of the Corporate-Debtor-Company, Goel Agrigreen Fields Pvt. Ltd. The petition was filed due to the corporate debtor's default on its debt obligations to the bank.
Punjab National Bank filed an I.B. Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Goel Agrigreen Fields Pvt. Ltd. The bank sought initiation of the Corporate-Insolvency-Resolution-Process (CIRP) due to the corporate debtor's default. Goel Agrigreen Fields Pvt. Ltd. was incorporated on 13.09.2006 with the CIN: U15400MP2006PTC018959 to establish a grain-based distillery and bottling plant. The nominal share capital of the Corporate-Debtor-Company is Rs.21,50,00,000/- and the paid-up share capital is Rs.21,38,33,390/-. The Creditor Bank classified the account of the Respondent Company as "Non Performing Account (NPA)" on 31.03.2016. The Applicant Bank issued a notice under Section 13(2) of the SARFAESI Act on 15.07.2016, demanding
…Goel Agrigreen Fields Pvt. Ltd. was…
Creditor Bank classified the account of the…