Page 264 - IBC Orders us 7-CA Mukesh Mohan

Order Passed by Sec 7
Hon’ble NCLT Ahemdabad Bench
IN THE NATIONAL COMPANY LAW TRIBUNAL
AHMEDABAD BENCH

C.P. (I.B.) No. 51/7/NCLT/AHM/2017

Decided On: 07.08.2017

Applicant: State Bank of India
Vs.
Respondent: Radheshyam Fibres Pvt. Ltd.

Judges/Coram:
Hon'ble Sh. Bikki Raveendra Babu, Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. Arjun Sheth, Learned Advocate

For Respondent:

ORDER

None present for Petitioner. Learned Advocate Mr. Arjun Sheth present for Respondent.

Order pronounced in open Court. Vide Separate Sheet.

1. State Bank of India filed this Application under Section 7 of the Insolvency and Bankruptcy Code,

2016 ["Code" for short] read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating
Authority) Rules, 2016 ["Adjudication Rules" for short] to trigger 'Insolvency Resolution Process' against
M/s. Radheshyam fibers Private Limited [hereinafter called as "Respondent/Corporate Debtor"].

2. The Application is signed by Shri Yogesh M. Avasia, Assistant General Manager & Relationship
Manager for and on behalf of State Bank of India, Stressed Assets Management Branch, Ahmedabad.

3. M/s. Radheshyam fibers Private Limited is a Private Limited Company incorporated under the

Companies Act, 1956 having its Registered Office at 134, Sardar Patel Marketing Yard National
Highway-8 B, Gondal Rajkot-360311 Gujarat.

4. The Authorised Share Capital of the Corporate Debtor is Rs. 3,00,00,000/- (30,00,000 shares of Rs. 10
each). The Paid-up Capital of the Corporate Debtor is Rs. 2,99,75,000/- (29,97,500 shares of Rs. 10/-

each. The main object for which the Corporate Debtor was incorporated is to carry out the business of

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