IDBI Bank's 'Event of Default' Invalidated, Challenging CIRP Initiation by Financial Creditors Under Inconsistent Agreements.

Initiation of CIRP - Financial creditors - The ‘Event of Default’ declared by the Respondent IDBI Bank has not been declared in accordance with the Inter-se Agreement entered into between participating banks of the Bank of Baroda consortium and the Security Trustee Agreement, and therefore cannot be called a valid ‘Event of Default’. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X