Kotak Mahindra Bank Ltd. filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kew Precision Parts Pvt. Ltd. The financial creditor and the corporate debtor had a longstanding relationship of financial transactions, with defaults occurring in 2015. The corporate debtor's account was declared NPA on 2015-09-30. The financial creditor issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 2015-11-19. An O.A. No. 576 of 2016 was filed in DRT-I, Delhi, for recovery against the corporate debtor, where the applicant bank was granted an interim relief on 2016-10-03, restraining the corporate debtor from dealing with hypothecated goods. A judgement dated 2017-04-10
…Kotak Mahindra Bank Ltd. filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kew Precision Parts Pvt. Ltd. The financial creditor and the corporate debtor had a longstanding relationship of financial transactions, with defaults occurring in 2015. The corporate debtor's account was declared NPA on 2015-09-30. The financial creditor issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 2015-11-19. An O.A. No. 576 of 2016 was filed in DRT-I, Delhi, for recovery against the corporate debtor, where the applicant bank was granted an interim relief on 2016-10-03, restraining the corporate debtor from dealing with hypothecated goods. A judgement dated 2017-04-10
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Kotak Mahindra Bank Ltd. filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kew Precision Parts Pvt. Ltd. The financial creditor and the corporate debtor had a longstanding relationship of financial transactions, with defaults occurring in 2015. The corporate debtor's account was declared NPA on 2015-09-30. The financial creditor issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 2015-11-19. An O.A. No. 576 of 2016 was filed in DRT-I, Delhi, for recovery against the corporate debtor, where the applicant bank was granted an interim relief on 2016-10-03, restraining the corporate debtor from dealing with hypothecated goods. A judgement dated 2017-04-10
…Kotak Mahindra Bank Ltd. filed a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Kew Precision Parts Pvt. Ltd. The financial creditor and the corporate debtor had a longstanding relationship of financial transactions, with defaults occurring in 2015. The corporate debtor's account was declared NPA on 2015-09-30. The financial creditor issued a notice under Section 13(2) of the SARFAESI Act, 2002, on 2015-11-19. An O.A. No. 576 of 2016 was filed in DRT-I, Delhi, for recovery against the corporate debtor, where the applicant bank was granted an interim relief on 2016-10-03, restraining the corporate debtor from dealing with hypothecated goods. A judgement dated 2017-04-10
…The account of the Corporate Debtor was…
The Financial Creditor…