State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Salasar Ispat Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default of ₹1,47,50,50,463.03/- with the date of declaration of the Corporate Debtor's debt as Non-Performing Assets (NPA) being 27.06.2013.
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Salasar Ispat Limited.
The total amount claimed to be in default by the Financial Creditor is ₹1,47,50,50,463.03/-.
The date of declaration of the Corporate Debtor's debt as Non-Performing Assets (NPA) is 27.06.2013.
The Financial Creditor sought to exclude the time period of proceedings before the Debt Recovery Tribunal (DRT) under the SARFAESI Act, 2002, based on Section 14 of the Limitation Act, 1963.
The Corporate Debtor did not appear despite notices, and the Adjudicating Authority set the Corporate Debtor ex parte on 1st July 2022.
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Loan granted…
Loan disbursed…
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Salasar Ispat Limited, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default of ₹1,47,50,50,463.03/- with the date of declaration of the Corporate Debtor's debt as Non-Performing Assets (NPA) being 27.06.2013.
State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Salasar Ispat Limited.
The total amount claimed to be in default by the Financial Creditor is ₹1,47,50,50,463.03/-.
The date of declaration of the Corporate Debtor's debt as Non-Performing Assets (NPA) is 27.06.2013.
The Financial Creditor sought to exclude the time period of proceedings before the Debt Recovery Tribunal (DRT) under the SARFAESI Act, 2002, based on Section 14 of the Limitation Act, 1963.
The Corporate Debtor did not appear despite notices, and the Adjudicating Authority set the Corporate Debtor ex parte on 1st July 2022.
…Loan granted…
Loan disbursed…