Bank of Baroda, as the Financial Creditor, initiated a Company Petition (CP No. 1807 of 2018 (MB) of 2018) against Topworth Urja& Metal Ltd., the Corporate Debtor, seeking Corporate Insolvency Resolution Process (CIRP) due to a default in payment of a financial debt amounting to Rs. 218,14,20,222.95. The petition was reserved for orders on July 4, 2019, but could not be decided due to the reconstitution of the bench. The Secretary, Ministry of Corporate Affairs, Government of India, urged the Applicant Bank to identify pending insolvency matters involving large debts and move Application before the respective Adjudicating Authorities for hearing of those matters. The present application was filed on 05.05.2020 seeking an early hearing of the Company Petition.
Bank of Baroda, the Financial Creditor, filed a Company Petition (CP No. 1807 of 2018) against Topworth Urja& Metal Ltd., the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The basis for the petition was the Corporate Debtor's default in payment of a financial debt amounting to Rs. 218,14,20,222.95. The petition was reserved for orders on July 4, 2019, but could not be decided due to the reconstitution of the bench. An application was filed on 05.05.2020 seeking an early hearing of the Company Petition. The Corporate Debtor requested an adjournment pending a resolution by acquisition. The court noted that the petition had been pending since July 4, 2019, and found no impediment to hearing the petition.
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Bank of Baroda filed Company Petition (CP No.…
The Company Petition was reserved for…
Bank of Baroda, as the Financial Creditor, initiated a Company Petition (CP No. 1807 of 2018 (MB) of 2018) against Topworth Urja& Metal Ltd., the Corporate Debtor, seeking Corporate Insolvency Resolution Process (CIRP) due to a default in payment of a financial debt amounting to Rs. 218,14,20,222.95. The petition was reserved for orders on July 4, 2019, but could not be decided due to the reconstitution of the bench. The Secretary, Ministry of Corporate Affairs, Government of India, urged the Applicant Bank to identify pending insolvency matters involving large debts and move Application before the respective Adjudicating Authorities for hearing of those matters. The present application was filed on 05.05.2020 seeking an early hearing of the Company Petition.
Bank of Baroda, the Financial Creditor, filed a Company Petition (CP No. 1807 of 2018) against Topworth Urja& Metal Ltd., the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The basis for the petition was the Corporate Debtor's default in payment of a financial debt amounting to Rs. 218,14,20,222.95. The petition was reserved for orders on July 4, 2019, but could not be decided due to the reconstitution of the bench. An application was filed on 05.05.2020 seeking an early hearing of the Company Petition. The Corporate Debtor requested an adjournment pending a resolution by acquisition. The court noted that the petition had been pending since July 4, 2019, and found no impediment to hearing the petition.
Bank of Baroda filed Company Petition (CP No.…
The Company Petition was reserved for…