The case pertains to a petition filed by New Tech Forge & Foundry Ltd. under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The petitioner, New Tech Forge & Foundry Ltd., sought initiation of the corporate insolvency resolution process. The petition was filed before the National Company Law Tribunal (NCLT), Ahmedabad Bench. Several financial creditors, including State Bank of India, Oriental Bank of Commerce, Corporation Bank, State Bank of Hyderabad, and International Asset Reconstruction Company Pvt. Ltd., were involved. The proceedings were initiated because the company had defaulted on its debts. Prior to this, the company's reference to the BIFR
…New Tech Forge & Foundry Ltd. filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the corporate insolvency resolution process. The company is registered under the Companies Act, 1956. The company's registered office is located in Rajkot. State Bank of India, Oriental Bank of Commerce, Corporation Bank, State Bank of Hyderabad, and International Asset Reconstruction Company Pvt. Ltd. are listed as Financial Creditors. The company had previously been subject to proceedings before the BIFR, which were later abated. Secured creditors had taken possession of the company's assets under the SARFAESI Act. The company admitted to defaulting on repayment of loans to Secured Creditors, Operational Creditors, and other
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The case pertains to a petition filed by New Tech Forge & Foundry Ltd. under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The petitioner, New Tech Forge & Foundry Ltd., sought initiation of the corporate insolvency resolution process. The petition was filed before the National Company Law Tribunal (NCLT), Ahmedabad Bench. Several financial creditors, including State Bank of India, Oriental Bank of Commerce, Corporation Bank, State Bank of Hyderabad, and International Asset Reconstruction Company Pvt. Ltd., were involved. The proceedings were initiated because the company had defaulted on its debts. Prior to this, the company's reference to the BIFR
…New Tech Forge & Foundry Ltd. filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the corporate insolvency resolution process. The company is registered under the Companies Act, 1956. The company's registered office is located in Rajkot. State Bank of India, Oriental Bank of Commerce, Corporation Bank, State Bank of Hyderabad, and International Asset Reconstruction Company Pvt. Ltd. are listed as Financial Creditors. The company had previously been subject to proceedings before the BIFR, which were later abated. Secured creditors had taken possession of the company's assets under the SARFAESI Act. The company admitted to defaulting on repayment of loans to Secured Creditors, Operational Creditors, and other
…The petition was filed…
The petition was listed…