Page 49 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
Hon’ble NCLT Principal Bench

IN THE NATIONAL COMPANY LAW TRIBUNAL
PRINCIPAL BENCH

C.P. (I.B.) No. 104/7/NCLT/PB/2017

Decided On: 03.07.2017

Applicant: Bank of India

Vs
Respondent: Tirupati Infraprojects Pvt. Ltd.

Judges/Coram:
Hon'ble Sh. M.M. Kumar (Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. Sanjay Bhatt, Mr. Naveen Kumar, Learned Advocates

For Respondents/Defendant: Mr. Manoj Kumar Singh, Mr. Vijay Kumar Singh, Ms. Daizy Chawla, Ms.
Vijaya Singh, Learned Advocates

ORDER

Hon'ble Sh. M.M. Kumar Member (J)

1. Bank of India being a lead Bank comprising the consortium of Bank of Baroda, Dena Bank

(which has assigned its debt in favour of Phoenix ARC Pvt. Ltd. on March 23, 2016), Canara Bank, Uco
Bank, Union Bank of India and Corporation Bank has approached this Tribunal under Section 7 of the
Insolvency and Bankruptcy Code, 2016 (for brevity the 'Code') describing itself as 'Financial Creditor'

with a prayer to initiate Corporate Insolvency Resolution Process against the 'Corporate Debtor'. The
applicant has claimed that it is a 'Financial Creditor' and the respondent is a 'Corporate Debtor' within the
meaning of the provisions of the Code.

2. Brief facts necessary for disposal of the controversy raised in this application are that Bank of
India is a body corporate constituted under the Banking Companies (Acquisition and Transfer of

Undertakings) Act, 1970 with its head office at Mumbai. The 'Corporate Debtor'-Tirupati Infraprojects
Pvt. Ltd. was incorporated under the Companies Act, 1956 on 05.01.2007 and _duly registered with the

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