TMI Blog2017 (4) TMI 1412X X X X Extracts X X X X X X X X Extracts X X X X ..... B Code, 2016. Further, Section 5(7) clearly provides that an assignee of a financial debt is also a financial creditor and hence the petition is well within the ambit of Section 7 of I&B Code,2016. The financial creditor has named one Mr. Vijaykumar V Iyer, Deloitte Touche Tohmatsu India LLP Indiabulls Finance Centre, Tower 3, 27th Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013 Email: viyer@DELOITTE.com, Registration No. IBBI/IPA-001/IP-00526/2016-17/1370 as the proposed interim resolution professional and the said professional vide his letter dated 29-03-2017 agreed for his appointment and also stated that no disciplinary proceedings pending against him. On looking at the petition and in the circumstance that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble properties. The corporate debtor requested the lenders for debt restructuring as the project under implementation has come under strain due to various internal or external reasons. Hence, the lenders and the corporate debtor agreed to enter into the master restructuring agreement to give effect to the corporate debt reconstruction package. 3. The State Bank of Mysore disbursed a sum of ₹ 50 crores (SBM Facility-I) on 31-03-2011 and the defaulted amount under this facility as on 28-03-2017 is ₹ 84,88,88,896/-. The same bank has sanctioned a sum of ₹ 3,38,49,765/- (SBM Facility-II) on 31 st March 2011 and defaulted amount the under this facility as on 28-03-2017 is ₹ 18,74,85,083/-. 4. M/s. Bank of Baroda wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016. 7. The financial creditor has named one Mr. Vijaykumar V Iyer, Deloitte Touche Tohmatsu India LLP Indiabulls Finance Centre, Tower 3, 27 th Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai - 400 013 Email: viyer@DELOITTE.com, Registration No. IBBI/IPA-001/IP-00526/2016-17/1370 as the proposed interim resolution professional and the said professional vide his letter dated 29-03-2017 agreed for his appointment and also stated that no disciplinary proceedings pending against him. 8. On looking at the petition and in the circumstance that there is a substantial compliance of provisions of section 7 of the IBC Code 2016, the petition is admitted declaring moratorium with consequential directions as below: - (i) That th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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