The case involves an application filed by Dena Bank Limited (now Bank of Baroda after amalgamation) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sri Venkatesa Paper & Board Limited, the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). Dena Bank initially filed CP/1353/IB/2018. During the pendency of the application, Dena Bank was amalgamated with Bank of Baroda. MA/749/2019 was filed for substitution of Dena Bank's name with Bank of Baroda. The Financial Creditor claimed a total outstanding amount of Rs. 1,16,81,08,629.87 as of 16.10.2018. The Corporate Debtor had availed various credit facilities from the Financial Creditor since 01.09.1998 and subsequently defaulted in repayment. The Corporate
…Dena Bank Limited (now Bank of Baroda) filed CP/1353/IB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sri Venkatesa Paper & Board Limited, seeking initiation of CIRP. Dena Bank and Bank of Baroda amalgamated, leading to MA/749/2019 for name substitution. The Financial Creditor claimed Rs. 1,16,81,08,629.87 outstanding as of 16.10.2018. The Corporate Debtor availed credit facilities from 01.09.1998 and defaulted. The Corporate Debtor was declared a sick company by BIFR on 03.09.2002. An OTS proposal failed. The Financial Creditor issued a legal notice on 11.08.2010. The Financial Creditor filed OA-103/2011 before DRT Coimbatore. The Corporate Debtor filed a counter-affidavit admitting to availing facilities and defaulting due to a
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Corporate Debtor…
Corporate Debtor…
The case involves an application filed by Dena Bank Limited (now Bank of Baroda after amalgamation) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sri Venkatesa Paper & Board Limited, the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). Dena Bank initially filed CP/1353/IB/2018. During the pendency of the application, Dena Bank was amalgamated with Bank of Baroda. MA/749/2019 was filed for substitution of Dena Bank's name with Bank of Baroda. The Financial Creditor claimed a total outstanding amount of Rs. 1,16,81,08,629.87 as of 16.10.2018. The Corporate Debtor had availed various credit facilities from the Financial Creditor since 01.09.1998 and subsequently defaulted in repayment. The Corporate
…Dena Bank Limited (now Bank of Baroda) filed CP/1353/IB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sri Venkatesa Paper & Board Limited, seeking initiation of CIRP. Dena Bank and Bank of Baroda amalgamated, leading to MA/749/2019 for name substitution. The Financial Creditor claimed Rs. 1,16,81,08,629.87 outstanding as of 16.10.2018. The Corporate Debtor availed credit facilities from 01.09.1998 and defaulted. The Corporate Debtor was declared a sick company by BIFR on 03.09.2002. An OTS proposal failed. The Financial Creditor issued a legal notice on 11.08.2010. The Financial Creditor filed OA-103/2011 before DRT Coimbatore. The Corporate Debtor filed a counter-affidavit admitting to availing facilities and defaulting due to a
…Corporate Debtor…
Corporate Debtor…