The case involves an application filed by the Managing Director of Ruby Cables Ltd., Chirag Gada, under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Ruby Cables Ltd. is the corporate debtor. The application was filed due to alleged default to Bank of Baroda, a financial creditor, amounting to Rs. 19.31 crores. The corporate applicant also stated that Bank of Baroda had issued notices under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The application was initially filed on 28.06.2017 and listed before the authority on 12.07.2017. The Adjudicating Authority directed the Corporate Applicant to issue notice of hearing to the
…Ruby Cables Ltd., incorporated on 24.12.1996, is a limited company with its registered office in Gujarat. The authorized share capital is Rs. 10,00,00,000, and the issued, subscribed, and paid-up share capital is Rs. 6,25,10,000. The corporate debtor has four directors and passed a Board Resolution on 05.06.2017 authorizing its Managing Director, Mr. Chirag N. Gada, to file an application under Section 10 of the Insolvency & Bankruptcy Code, 2016. The corporate debtor has committed default to Bank of Baroda, a financial creditor, to the tune of Rs. 19.31 crores. Bank of Baroda issued notices under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, on 15.04.2017 and 25.04.2017. As of 05.06.2017, the corporate
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Ruby Cables Ltd. was…
Paschim Gujarat Vij Company Ltd. (PGVCL)…
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The case involves an application filed by the Managing Director of Ruby Cables Ltd., Chirag Gada, under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). Ruby Cables Ltd. is the corporate debtor. The application was filed due to alleged default to Bank of Baroda, a financial creditor, amounting to Rs. 19.31 crores. The corporate applicant also stated that Bank of Baroda had issued notices under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The application was initially filed on 28.06.2017 and listed before the authority on 12.07.2017. The Adjudicating Authority directed the Corporate Applicant to issue notice of hearing to the
…Ruby Cables Ltd., incorporated on 24.12.1996, is a limited company with its registered office in Gujarat. The authorized share capital is Rs. 10,00,00,000, and the issued, subscribed, and paid-up share capital is Rs. 6,25,10,000. The corporate debtor has four directors and passed a Board Resolution on 05.06.2017 authorizing its Managing Director, Mr. Chirag N. Gada, to file an application under Section 10 of the Insolvency & Bankruptcy Code, 2016. The corporate debtor has committed default to Bank of Baroda, a financial creditor, to the tune of Rs. 19.31 crores. Bank of Baroda issued notices under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, on 15.04.2017 and 25.04.2017. As of 05.06.2017, the corporate
…Ruby Cables Ltd. was…
Paschim Gujarat Vij Company Ltd. (PGVCL)…
Sign in to view related legal provisions.