Union Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Matoshri Laxmi Sugar Co-Generation Industries Limited.

The amount claimed to be in default as on 10.08.2024 is INR 56,00,99,701/-.

The date of default in respect of CC Pledge facility is 24.03.2023 and the date of default in respect of the Term Loan Facility is 06.12.2023.

The Applicant Bank has proposed the name of Mr. Ram Singh Setia to be appointed as the IRP of the Corporate Debtor.

The Corporate Debtor had availed various credit facilities under a Consortium Arrangement consisting of Applicant Bank, Punjab National Bank and Vijaya Bank (now Bank of Baroda).

The Financial Creditor obtained Judgments against the Corporate Debtor on 24.03.2023 and 06.12.2023.…

Union Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Matoshri Laxmi Sugar Co-Generation Industries Limited.

The amount claimed to be in default as on 10.08.2024 is INR 56,00,99,701/-.

The date of default in respect of CC Pledge facility is 24.03.2023 and the date of default in respect of the Term Loan Facility is 06.12.2023.

The Applicant Bank has proposed the name of Mr. Ram Singh Setia to be appointed as the IRP of the Corporate Debtor.

The Corporate Debtor had availed various credit facilities under a Consortium Arrangement consisting of Applicant Bank, Punjab National Bank and Vijaya Bank (now Bank of Baroda).

The Financial Creditor obtained Judgments against the Corporate Debtor on 24.03.2023 and 06.12.2023.…