Indian Bank, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against United Seamless Tubulaar Private Limited, the corporate debtor, due to a default in repayment of outstanding dues. The date of default was 30/09/2016. The corporate debtor failed to clear the outstanding amounts, even though they were aware of their obligation to pay outstanding loans. The application was instituted in April 2017. The financial creditor submitted all the necessary documents in support of their claim. The court granted sufficient opportunities to both parties before proceeding with the order.

Indian Bank, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against United Seamless Tubulaar Private Limited, the corporate debtor, due to a default in repayment of outstanding dues. The date of default was 30/09/2016. The corporate debtor failed to clear the outstanding amounts, even though they were aware of their obligation to pay outstanding loans. The application was instituted in April 2017. The financial creditor submitted all the necessary documents in support of their claim. The court granted sufficient opportunities to both parties before proceeding with the order.