Bank of Baroda, as Financial Creditor, filed a Section 7 IBC petition against Jagdish Construction Limited, the Corporate Debtor, for a financial debt of Rs. 10,94,33,610.91/-. The debt originated from a term loan for commercial vehicles, secured by hypothecation and guarantees, which became a Non-Performing Asset on 28.06.2025 due to default.
Bank of Baroda (Financial Creditor) filed a Company Petition under Section 7 of the IBC, 2016.
The petition seeks to initiate CIRP against Jagdish Construction Limited (Corporate Debtor).
The financial debt in default amounts to Rs. 10,94,33,610.91/- as on 30.11.2025.
Mr. Uddhav Kumar Chaudhary, Chief Manager, is the authorized signatory for Bank of Baroda.
Jagdish Construction Limited is a Public company incorporated on 22.02.1990, engaged in freight transport.
Mr. Rishabh Chand Lodha was proposed as the Interim Resolution Professional (IRP).
A term loan facility of Rs. 14,58,00,000/- was sanctioned on 24.03.2023 for the purchase of thirty commercial vehicles.
The loan facility was disbursed on 29.03.2023.
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Term loan facility of…
Term loan facility…
Bank of Baroda, as Financial Creditor, filed a Section 7 IBC petition against Jagdish Construction Limited, the Corporate Debtor, for a financial debt of Rs. 10,94,33,610.91/-. The debt originated from a term loan for commercial vehicles, secured by hypothecation and guarantees, which became a Non-Performing Asset on 28.06.2025 due to default.
Bank of Baroda (Financial Creditor) filed a Company Petition under Section 7 of the IBC, 2016.
The petition seeks to initiate CIRP against Jagdish Construction Limited (Corporate Debtor).
The financial debt in default amounts to Rs. 10,94,33,610.91/- as on 30.11.2025.
Mr. Uddhav Kumar Chaudhary, Chief Manager, is the authorized signatory for Bank of Baroda.
Jagdish Construction Limited is a Public company incorporated on 22.02.1990, engaged in freight transport.
Mr. Rishabh Chand Lodha was proposed as the Interim Resolution Professional (IRP).
A term loan facility of Rs. 14,58,00,000/- was sanctioned on 24.03.2023 for the purchase of thirty commercial vehicles.
The loan facility was disbursed on 29.03.2023.
…Term loan facility of…
Term loan facility…