Bank of India sanctioned credit facilities to HDO Technologies Limited amounting to Rs. 147.44 crores on 06-08-2014, including working capital term loans, funded interest term loans, cash credit, letters of credit, and bank guarantees. The corporate debtor defaulted on payments, leading to the account being classified as a non-performing asset on 31-12-2014. The outstanding amount as of 31-03-2017 was Rs. 162,31,99,387. The financial creditor sent letters to the corporate debtor disclosing the position of the account and seeking acknowledgment of the balance, which the corporate debtor confirmed. The corporate debtor conceded to the initiation of the Insolvency Resolution Process. The relevance of these facts is to establish the financial debt and default, which are

Bank of India sanctioned credit facilities to HDO Technologies Limited amounting to Rs. 147.44 crores on 06-08-2014, including working capital term loans, funded interest term loans, cash credit, letters of credit, and bank guarantees. The corporate debtor defaulted on payments, leading to the account being classified as a non-performing asset on 31-12-2014. The outstanding amount as of 31-03-2017 was Rs. 162,31,99,387. The financial creditor sent letters to the corporate debtor disclosing the position of the account and seeking acknowledgment of the balance, which the corporate debtor confirmed. The corporate debtor conceded to the initiation of the Insolvency Resolution Process. The relevance of these facts is to establish the financial debt and default, which are