The case pertains to an application filed by Twenty First Century Wire Rods Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against itself. The company acknowledged its financial distress and inability to meet its contractual obligations to creditors, including IDBI Bank and Kotak Mahindra Bank. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.
Twenty First Century Wire Rods Limited, incorporated on 08.10.1996, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company's identification number is CIN-U27100DL1996PLC082467, and its registered office is in New Delhi. The company has two financial creditors: IDBI Bank Limited and ING Vyasa Bank Limited. It entered into a Deed of Hypothecation with IDBI Bank on 15.09.2008 for a credit facility of Rs. 3200 lakh. The company also mortgaged properties in Goa and Mumbai on 30.03.2009. Further credit facilities were obtained from IDBI Bank on 16.12.2009 and 15.04.2010. The company renewed its credit facility with IDBI Bank on 16.03.2011 for Rs.
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Twenty First Century…
Entered into a Deed of Hypothecation with IDBI…
The case pertains to an application filed by Twenty First Century Wire Rods Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against itself. The company acknowledged its financial distress and inability to meet its contractual obligations to creditors, including IDBI Bank and Kotak Mahindra Bank. The application was filed before the National Company Law Tribunal (NCLT), New Delhi.
Twenty First Century Wire Rods Limited, incorporated on 08.10.1996, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company's identification number is CIN-U27100DL1996PLC082467, and its registered office is in New Delhi. The company has two financial creditors: IDBI Bank Limited and ING Vyasa Bank Limited. It entered into a Deed of Hypothecation with IDBI Bank on 15.09.2008 for a credit facility of Rs. 3200 lakh. The company also mortgaged properties in Goa and Mumbai on 30.03.2009. Further credit facilities were obtained from IDBI Bank on 16.12.2009 and 15.04.2010. The company renewed its credit facility with IDBI Bank on 16.03.2011 for Rs.
…Twenty First Century…
Entered into a Deed of Hypothecation with IDBI…