Indian Overseas Bank, as a Financial Creditor, filed a petition under Section 7 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mhow Ghatabill Toll Roads Pvt. Ltd., the Corporate Debtor. The petition stemmed from the Corporate Debtor's failure to repay a debt of INR 70 Crores, which was assigned to Indian Overseas Bank from an original loan sanctioned by IL&FS Financial Services Limited. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on June 29, 2019, and despite demand and recall notices, an outstanding amount of Rs. 1,17,74,94,044.88 remained unpaid as of November 20, 2025.
Indian Overseas Bank filed a petition on 01.04.2026 under Section 7 of the IBC, 2016, to initiate CIRP against M/s Mhow Ghatabill Toll Roads Private Limited.
M/s Mhow Ghatabill Toll Roads Private Limited was incorporated on 18.08.2011 and is engaged in developing a four-lane toll road project.
IL&FS Financial Services Limited sanctioned a term loan of Rs. 217.00 Crores to the Corporate Debtor on 02.03.2012.
A portion of this debt, INR 70 Crores, was assigned to Indian Overseas Bank on 01.10.2012, which the Corporate Debtor accepted on 27.09.2012.
The Corporate Debtor failed to adhere to repayment obligations, and its account was classified as a Non-Performing Asset (NPA) on 29.06.2019.
Demand notices were issued on 19.08.2019 and a loan recall notice on 30.06.2020.
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M/s Mhow Ghatabill Toll Roads Private Limited…
IL&FS Financial Services Limited sanctioned a…
Indian Overseas Bank, as a Financial Creditor, filed a petition under Section 7 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mhow Ghatabill Toll Roads Pvt. Ltd., the Corporate Debtor. The petition stemmed from the Corporate Debtor's failure to repay a debt of INR 70 Crores, which was assigned to Indian Overseas Bank from an original loan sanctioned by IL&FS Financial Services Limited. The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on June 29, 2019, and despite demand and recall notices, an outstanding amount of Rs. 1,17,74,94,044.88 remained unpaid as of November 20, 2025.
Indian Overseas Bank filed a petition on 01.04.2026 under Section 7 of the IBC, 2016, to initiate CIRP against M/s Mhow Ghatabill Toll Roads Private Limited.
M/s Mhow Ghatabill Toll Roads Private Limited was incorporated on 18.08.2011 and is engaged in developing a four-lane toll road project.
IL&FS Financial Services Limited sanctioned a term loan of Rs. 217.00 Crores to the Corporate Debtor on 02.03.2012.
A portion of this debt, INR 70 Crores, was assigned to Indian Overseas Bank on 01.10.2012, which the Corporate Debtor accepted on 27.09.2012.
The Corporate Debtor failed to adhere to repayment obligations, and its account was classified as a Non-Performing Asset (NPA) on 29.06.2019.
Demand notices were issued on 19.08.2019 and a loan recall notice on 30.06.2020.
…M/s Mhow Ghatabill Toll Roads Private Limited…
IL&FS Financial Services Limited sanctioned a…