The Bank of Baroda Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, to initiate CIRP against Alvi Tech Services Private Limited (Corporate Debtor) due to a default of Rs. 15,99,10,466.99. The Corporate Debtor, an MSME, disputed the claim, alleging the Financial Creditor charged excess interest, wrongly appropriated funds, reduced drawing power, and refused restructuring proposals, leading to financial difficulties. The Corporate Debtor also contended the application was time-barred.
C.P. (IB) No. 201/MB/2026 was filed on 24.02.2026 by Bank of Baroda Ltd. (Financial Creditor) under Section 7 of the IBC, 2016.
The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Alvi Tech Services Private Limited (Corporate Debtor).
The application was affirmed by Mr. Vijay Jain, authorized signatory of the Applicant.
The amount claimed to be in default is Rs. 15,99,10,466.99/-, inclusive of interest, as on 18.12.2025.
The date of default is stated as 30.06.2018, and the date of NPA is stated as 28.09.2018.
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The Bank of Baroda Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, to initiate CIRP against Alvi Tech Services Private Limited (Corporate Debtor) due to a default of Rs. 15,99,10,466.99. The Corporate Debtor, an MSME, disputed the claim, alleging the Financial Creditor charged excess interest, wrongly appropriated funds, reduced drawing power, and refused restructuring proposals, leading to financial difficulties. The Corporate Debtor also contended the application was time-barred.
C.P. (IB) No. 201/MB/2026 was filed on 24.02.2026 by Bank of Baroda Ltd. (Financial Creditor) under Section 7 of the IBC, 2016.
The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Alvi Tech Services Private Limited (Corporate Debtor).
The application was affirmed by Mr. Vijay Jain, authorized signatory of the Applicant.
The amount claimed to be in default is Rs. 15,99,10,466.99/-, inclusive of interest, as on 18.12.2025.
The date of default is stated as 30.06.2018, and the date of NPA is stated as 28.09.2018.
…The original sanction…
Credit facilities were…