Page 141 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
Hon’ble NCLT Principal Bench

25.05.2017 issued by the Insolvency and Bankruptcy Board of India has also been filed along with a print

out of the list of registered Insolvency Professionals along with extract of list of Insolvency Professionals
as appearing on their website, which includes the name of Sanjay Gupta. The relevant entry is reproduced
below:-

252 IBBI/IPA- Mr. E-10A, Sanjay.gupta@aaac Indian 25 May, Registered
001/IP- Sanjay Kailash apitalservices.com Institute of 2017 Under

P00117/201 Gupta Colony Insolvency Regulation
7-18/10252 Greater profession 9(Sl.No.277)

Kailash-I, als of ICAI
New Delhi-
110048

It is seen that the details given above are correct, with regard to email and address of IRP as it

pertains to the later period of 2017-18.

4. The instant application under section 7 of IBC was filed on 24.05.2017 by Punjab National Bank in

respect of sixteen respondents. In addition to Respondent-1 company, M/s. Samtel Color Ltd., respondent
No. 2 to 16 were impleaded in their capacity as being other banks and financial institutions who were

claiming pari passu charge over the movable and immovable assets of Respondent-1. On 06.07.2017, the
applicant filed an application for deletion of Respondent No. 2 to 16 from the array of parties, as they
were neither proper nor necessary parties for the purposes of the instant petition. This application was

disposed of with the direction that the names of aforesaid respondents be deleted from the memo of
parties. Thus, the instant petition survives against only one respondent, namely, Samtel Color Ltd. the
Corporate Debtor.

5. The 'Financial Creditor' has given the details of Financial Debt, Working Capital Facilities, Details of
Term Loan and External Commercial Facilities. In part-V of the application, which is on a proforma

prescribed under Rule-4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules,
2016 read with Section 7 of the Code, has given the following details about the financial debts:

Part-IV
Particulars of Financial Debt
Punjab National Bank (PNB) sanctioned the following facilities:
Total Amount of Debt
Applicant Bank sanctioned various facilities which were extended
Granted from time to time to the Respondent no.-1 company, lastly sanctioned
on 05.12.2006. The facility sanction and availed by Respondent no.-1

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