9911796707
TMI Blog2017 (5) TMI 1633X X X X Extracts X X X X X X X X Extracts X X X X ..... iefs under Section 7(5)(a) and Section 13(1)(b) of the Code. 2. Bhatia Global Trading Lirnited is a Public Limited Company (hereinafter called as "Company") and was incorporated on 28.8.1991 under the Companies Act, having its Registered Office at BCC House, 8/ 5, Manoramaganj, Navratan Bagh Main Road, Indore, Madhya Pradesh. 3. The Authorised Share Capital of the Company is Rs. 46,30,00,000/-. The Paid-Up Share Capital of the Company is Rs. 45,96,71,890/-. The Main Object of the Company was to carry out the business of trading of Coal. IDBI sanctioned Working Capital Limits aggregating to Rs. 75.60 Crores comprising of Fund-based Limit of Rs. 5.00 Crores, and Non- Fund-based Limit by way of Inland Letter of Credit, Foreign Letter of Cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Guarantor, failed and neglected to pay the amount due and payable by Asian Natural Resources (India) Ltd, in its capacity as 'Principal Borrower'. Petitioner Bank issued a Notice dated 7th March, 2017 to thc Respondent Company calling upon them to pay forthwith an amount of Rs. 38,31,06,744.44 ps„together with interest thereon with effect from February 18, 2017. The notice was served on the Respondent Company. Respondent Company neither made payment nor gave reply. According to the Petitioner, Respondent Company is liable to pay Rs. 82,04,12,819.41 ps., as 'Principal Borrower' and Rs. 38,31,06,744.44 ps. as 'Corporate Guarantor' to Asian Natural Resources (India) Ltd. 5. IDBI Bank Ltd., filed this Petition on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On 17.5.2017, i.e., on the date of hearing, none remained present on behalf of the Corporate Debtor. The debt due to the Financial Creditor is a 'Financial Debt'. The Petition is complete in all respects. The 'Financial Debt' is defined in sub-section (8) of Section 5 of the Code. 9. In view of the above discussions, this Petition is admitted under Section 7 (5) of the Code. This Adjudicating Authority is also appointing Company Secretary, Shri Nitin Hasmukhlal Parikh, residing at 7th Floor, 737, Fortune Tower, Sayajigunj, Vadodara-390005 (E-mail: nitin [email protected]) having Registration No. IBB1/1PA-002/1P-N00058/2016- 17/ 10110 as "Interim Resolution Professional" under Section 13(I)(b) of the Code. 10. Section 13 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
