Page 101 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
Hon’ble NCLT Principal Bench

been placed on record (Annexure 6 colly). The estimated value of security interest created in favour of the

'Financial Creditor' on the basis of annual report of 2014-2015 is as under:

A. Valuation of Fixed assets INR 314 crores

B. Valuation of current assets INR 2340 crores

9. The 'Financial Creditor' has also placed on record latest and complete copy of financial contract

along with all amendments and waivers upto date and the copy of the same have been placed on record
(Annexure 7 colly). The documents placed on record are as under:-

(a) Sanction letter dated 2.4.2013 by SBI with respect to Working Capital Consortium Agreement

dated 7.8.2013.

(b) Working Capital Consortium Agreement dated 26.4.2013 executed between SBI, other
consortium lenders and the Corporate Debtor.

(c) Sanction letter dated 25.7.2013 by SBI with respect to Working Capital Consortium Agreement
dated 7.8.2013.

(d) Working Capital Consortium Agreement dated 7.8.2013 executed between SBI, other consortium

lenders and the Corporate Debtor.

(e) Agreement of Loan for overall limit dated 25.2.2014 executed between SBI and the Corporate
Debtor

(f) Assignment Agreements dated 23.3.2015, 29.6.2015, 29.9.2015, 30.12.2015, 29.3.2016,

30,6.2016 and 28.2.2017 executed between SBI and Edelweiss Assets Reconstruction Company
Ltd. in its capacity as trustee of EARCT.

10. To fulfil the requirement of showing the record of default the 'Financial Creditor' has annexed
status classification report of corporate debtor dated 21.62017 issued by CIBIL (Annexure 8). Copies of
entries in Bankers book in accordance with the Bankers Book Evidence Act, 1891 showing the detail
account of Corporate Debtor maintained by the State Bank of India have also been placed on record

(Annexure 9 Cony). Acknowledgment of debt issued by Corporate Debtor vide letter dated 28.3.2017 in
favour of 'Financial Creditor' along with the annual report are also placed on record (annexure 10 colly).

The 'Financial Creditor' in its capacity as trustee of other trusts has separately acquired financial assets
and loan accounts of the Corporate Debtor to enable it to file claim for financial default on behalf of such
other trusts for the financial assets acquired by such other trusts in accordance with the provision of

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