The case pertains to an application filed by Central Bank of India, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Silver Proteins Private Limited, the Corporate Debtor, due to default in repayment of debt. The bank claimed a default amount of Rs. 33,97,30,993/- as of 01.07.2015, with the account being classified as NPA on the same date. The Corporate Debtor contested the claim, alleging incorrect application of interest and disputing the authority of the person filing the petition.
Central Bank of India, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Silver Proteins Private Limited, the Corporate Debtor. The Corporate Debtor's account was classified as NPA on 01.07.2015, with a claimed default amount of Rs. 33,97,30,993/- as of that date. The Financial Creditor submitted various documents, including loan applications, sanction letters, demand promissory notes, and statements of accounts, to support its claim. The Corporate Debtor contested the claim, alleging incorrect application of interest and disputing the authority of the person filing the petition. The Corporate Debtor also argued that the petition was barred by limitation. Mahendra Oil Cake Industries Ltd. also
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The account of Silver Proteins Private Limited…
A notice under Section…
The case pertains to an application filed by Central Bank of India, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Silver Proteins Private Limited, the Corporate Debtor, due to default in repayment of debt. The bank claimed a default amount of Rs. 33,97,30,993/- as of 01.07.2015, with the account being classified as NPA on the same date. The Corporate Debtor contested the claim, alleging incorrect application of interest and disputing the authority of the person filing the petition.
Central Bank of India, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Silver Proteins Private Limited, the Corporate Debtor. The Corporate Debtor's account was classified as NPA on 01.07.2015, with a claimed default amount of Rs. 33,97,30,993/- as of that date. The Financial Creditor submitted various documents, including loan applications, sanction letters, demand promissory notes, and statements of accounts, to support its claim. The Corporate Debtor contested the claim, alleging incorrect application of interest and disputing the authority of the person filing the petition. The Corporate Debtor also argued that the petition was barred by limitation. Mahendra Oil Cake Industries Ltd. also
…The account of Silver Proteins Private Limited…
A notice under Section…