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NATIONAL COMPANY LAW TRIBUNAL
V. G. Bisht (Retd.), Member (Judicial), Sh. Prabhat Kumar, Member (Technical)
Canara Bank – Appellant
Versus
Indira Container Terminal Private Limited – Respondent
| Table of Content |
|---|
| 1. application of section 7 of ibc for initiating cirp against corporate debtor. (Para 1 , 2 , 3) |
| 2. respondent's defense regarding limitations and project financing disputes. (Para 14 , 15) |
| 3. existence of financial debt and default established; admission accepted. (Para 44 , 45 , 48) |
| 4. cirp admitted with moratorium declared. (Para 51 , 52) |
ORDER
Per: Justice V. G. Bisht (Retd.), Member (Judicial)
Brief Facts:
1. This Company Petition is filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Canara Bank ("hereinafter referred to as the Financial Creditor/Applicant"), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Indira Container Terminal Pvt. Ltd. ("hereinafter referred to as the Corporate Debtor/Respondent/ICTPL").
2. The Applicant is a body corporate constituted under the Banking Companies (Acquisition and transfer of Undertaking) Act, 1970 having PAN:AAACC6106G with its head office at 112, J.C. Road, Bangalore - 560002.
3. The Respondent is constituted under the Companies Act, 1956 having Company Identification no. U63032MH2007PTC174100 with its head office at ICT Office, Indira Dock, Green Gate, Mumbai Port, Mumbai, Ma
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