Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Multiwal Pulp and Board Mills Private Limited, the corporate debtor. The application was based on a default in payment of a decreed amount of Rs. 56,70,74,811.06/- along with interest, which was awarded by the Debts Recovery Tribunal, Delhi in O.A. No. 28/2016. The corporate debtor had previously challenged the decree, but their application for recall and subsequent appeal were dismissed.
Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Multiwal Pulp and Board Mills Private Limited. The application was based on a default in payment of a decreed amount of Rs. 56,70,74,811.06/- along with interest. The Debts Recovery Tribunal, Delhi, had previously awarded this amount in O.A. No. 28/2016. The corporate debtor had challenged the decree by filing an application for recall, which was dismissed on 19.05.2017. An appeal filed by the corporate debtor under Section 20 of the Recovery of Debt due to Banks and Financial Institution act, 1993, was also dismissed by Debts Recovery Appellate Tribunal. The applicant bank had sanctioned a total sum
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Corporation Bank sanctioned a total sum of Rs.…
Applicant and respondent executed loan…
Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Multiwal Pulp and Board Mills Private Limited, the corporate debtor. The application was based on a default in payment of a decreed amount of Rs. 56,70,74,811.06/- along with interest, which was awarded by the Debts Recovery Tribunal, Delhi in O.A. No. 28/2016. The corporate debtor had previously challenged the decree, but their application for recall and subsequent appeal were dismissed.
Corporation Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Multiwal Pulp and Board Mills Private Limited. The application was based on a default in payment of a decreed amount of Rs. 56,70,74,811.06/- along with interest. The Debts Recovery Tribunal, Delhi, had previously awarded this amount in O.A. No. 28/2016. The corporate debtor had challenged the decree by filing an application for recall, which was dismissed on 19.05.2017. An appeal filed by the corporate debtor under Section 20 of the Recovery of Debt due to Banks and Financial Institution act, 1993, was also dismissed by Debts Recovery Appellate Tribunal. The applicant bank had sanctioned a total sum
…Corporation Bank sanctioned a total sum of Rs.…
Applicant and respondent executed loan…