Bank of India Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Badri Kedar Udyog Private Limited, the Corporate Debtor, for an alleged default.
Bank of India Limited sanctioned a cash credit facility of ₹15,00,00,000/- to Shree Badri Kedar Udyog Private Limited.
The Corporate Debtor failed to repay as per the schedule of repayment, and the loan account was classified as Non-Performing Asset (NPA) on 13th April, 2018.
The Financial Creditor recalled the loan amount and demanded a sum of ₹ 15,22,75,197.95/- vide notice dated 19th May, 2018.
The Corporate Debtor offered a One Time Settlement (OTS) of the outstanding dues vide its letter dated 21st March, 2025, acknowledging its liability towards repayment.
The total debt due is ₹ 23,56,27,730.46/- as on 28th July, 2025.
The Corporate Debtor was set ex parte on 27th November, 2025 due to non-appearance and failure to file a reply affidavit.
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Loan account classified…
Financial Creditor…
Bank of India Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Badri Kedar Udyog Private Limited, the Corporate Debtor, for an alleged default.
Bank of India Limited sanctioned a cash credit facility of ₹15,00,00,000/- to Shree Badri Kedar Udyog Private Limited.
The Corporate Debtor failed to repay as per the schedule of repayment, and the loan account was classified as Non-Performing Asset (NPA) on 13th April, 2018.
The Financial Creditor recalled the loan amount and demanded a sum of ₹ 15,22,75,197.95/- vide notice dated 19th May, 2018.
The Corporate Debtor offered a One Time Settlement (OTS) of the outstanding dues vide its letter dated 21st March, 2025, acknowledging its liability towards repayment.
The total debt due is ₹ 23,56,27,730.46/- as on 28th July, 2025.
The Corporate Debtor was set ex parte on 27th November, 2025 due to non-appearance and failure to file a reply affidavit.
…Loan account classified…
Financial Creditor…