Assets Care & Reconstruction Enterprise Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ankit Metal & Power Limited, the Corporate Debtor. The Corporate Debtor is a private limited company incorporated on 07.08.2022 with a substantial authorized and paid-up share capital. The Financial Creditor claims a total amount of Rs. 22,13,81,08,600/- due from the Corporate Debtor, with defaults dating back to 2014 and 2016. The Corporate Debtor had obtained financial assistance from various banks, including IDBI Bank, Indian Overseas Bank, State Bank of India, and Allahabad Bank, and had entered into restructuring agreements. The Corporate Debtor's account was
…An application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Assets Care & Reconstruction Enterprise Limited (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Ankit Metal & Power Limited (Corporate Debtor). The Corporate Debtor is a private limited company incorporated on 07.08.2022. The authorized share-capital of the company is ₹1,41,20,00,000/- and the paid-up share capital of the company is ₹1,41,11,05,000/-. The total amount claimed to be in due to the Operational Creditor, is Rs. 22,13,81,08,600/-. The dates of default mentioned in the petition are 29.08.2014, 30.09.2014 and 30.09.2016. The Corporate Debtor is engaged in the business of iron and steel including manufacturing of sponge iron,
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Working Capital Consortium Agreement dated…
IDBI Bank Limited (IDBI Bank') vide Facility…
Assets Care & Reconstruction Enterprise Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ankit Metal & Power Limited, the Corporate Debtor. The Corporate Debtor is a private limited company incorporated on 07.08.2022 with a substantial authorized and paid-up share capital. The Financial Creditor claims a total amount of Rs. 22,13,81,08,600/- due from the Corporate Debtor, with defaults dating back to 2014 and 2016. The Corporate Debtor had obtained financial assistance from various banks, including IDBI Bank, Indian Overseas Bank, State Bank of India, and Allahabad Bank, and had entered into restructuring agreements. The Corporate Debtor's account was
…An application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Assets Care & Reconstruction Enterprise Limited (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Ankit Metal & Power Limited (Corporate Debtor). The Corporate Debtor is a private limited company incorporated on 07.08.2022. The authorized share-capital of the company is ₹1,41,20,00,000/- and the paid-up share capital of the company is ₹1,41,11,05,000/-. The total amount claimed to be in due to the Operational Creditor, is Rs. 22,13,81,08,600/-. The dates of default mentioned in the petition are 29.08.2014, 30.09.2014 and 30.09.2016. The Corporate Debtor is engaged in the business of iron and steel including manufacturing of sponge iron,
…Working Capital Consortium Agreement dated…
IDBI Bank Limited (IDBI Bank') vide Facility…