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NATIONAL COMPANY LAW TRIBUNAL
SHRI. SANJIV JAIN, MEMBER (JUDICIAL), SHRI. VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)
Central Bank of India – Appellant
Versus
A Dominic Savio – Respondent
| Table of Content |
|---|
| 1. admission and details of petition for insolvency (Para 1 , 2 , 4) |
| 2. counterclaims by respondent against the petition (Para 5 , 6) |
| 3. determination of legal debt and basis for court's decision (Para 8) |
| 4. resolution process initiation under ibc (Para 9) |
| 5. final orders and directions by the tribunal (Para 10) |
COMMON ORDER
(Hearing through hybrid mode
1. This Petition CP(IBC)/217(CHE)/2021 has been filed u/s. 95 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC, 2016") r/w. Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 by Central bank of India (“Financial Creditor”) for initiating insolvency resolution process against Mr. Dominic Savio (“Personal Guarantor”) of the Corporate Debtor Oceanic Edibles International Limited. The amount in default is Rs.160,87,73,025/- (Rupees One Hundred Sixty Crores, Eighty Seven Lakhs Seventy Three Thousand and Twenty Five Only) as on 15.02.2021. The Date of Default, as specified in Part-III of the Petition is 27.06.2019.
This petition has been filed on 28.02.2021.
2. Part – I of the peti
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