Axis Bank Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. IMOST Academy (India) Private Limited, the Corporate Debtor. The petition alleged a default of Rs. 5,70,84,211.69/- as of February 22, 2026, which exceeded the prescribed threshold. The Corporate Debtor had availed various credit facilities from the Financial Creditor for setting up a training institute, and these loan accounts were classified as Non-Performing Assets (NPA) on June 29, 2024. The Corporate Debtor raised a defense, stating that the Financial Creditor had already initiated insolvency proceedings under Section 7 of the IBC against a guarantor, M/s. Euro
…Axis Bank Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. IMOST Academy (India) Private Limited (Respondent/Corporate Debtor).
The Corporate Debtor is a private limited company incorporated under the Companies Act, 2013, with CIN U80302KL2014PTC037125, and is an educational institution in Ernakulam, Kerala.
In 2019, the Corporate Debtor availed credit facilities/financial assistance from the Financial Creditor for procurement of land, construction of buildings, and equipment for a training institute.
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Sanction letter for…
Term Loan Agreement (Annexure A8) and…
Axis Bank Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. IMOST Academy (India) Private Limited, the Corporate Debtor. The petition alleged a default of Rs. 5,70,84,211.69/- as of February 22, 2026, which exceeded the prescribed threshold. The Corporate Debtor had availed various credit facilities from the Financial Creditor for setting up a training institute, and these loan accounts were classified as Non-Performing Assets (NPA) on June 29, 2024. The Corporate Debtor raised a defense, stating that the Financial Creditor had already initiated insolvency proceedings under Section 7 of the IBC against a guarantor, M/s. Euro
…Axis Bank Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. IMOST Academy (India) Private Limited (Respondent/Corporate Debtor).
The Corporate Debtor is a private limited company incorporated under the Companies Act, 2013, with CIN U80302KL2014PTC037125, and is an educational institution in Ernakulam, Kerala.
In 2019, the Corporate Debtor availed credit facilities/financial assistance from the Financial Creditor for procurement of land, construction of buildings, and equipment for a training institute.
…Sanction letter for…
Term Loan Agreement (Annexure A8) and…