Page 529 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
By Hon’ble NCLT Hyderabad Bench

IN THE NATIONAL COMPANY LAW TRIBUNAL
HYDERABAD BENCH

C.P. (I.B.) No. 16/7/NCLT/HDB/2017

Decided On: 20.02.2017

Applicants: M/s. Indian Bank
Vs.
Respondent: Kamineni Steel And Power India Private Limited

Judges/Coram:
Hon'ble Sh. Rajeswara Rao Vittanala, Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. V. K. Sajith, Learned Advocate

For Respondents/Defendant: Mr. E Ajay Reddy and Mr. K. Ravi Kumar Chary, Learned Advocates

ORDER

Hon'ble Sh. R ajeswara Rao Vittanala, Member (J)

1. The Insolvency and Bankruptcy Petition was filed by Indian Bank (Financial Creditor) to initiate

Corporate Insolvency Resolution Process Under section 7 of the Insolvency and Bankruptcy Code, 2016
read with Rule 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to
initiate Corporate Insolvency Resolution Process.

2. It is stated that Indian Bank along with other banks granted loans to Kamineni Steel and Power
India Private Limited as follows:-

S.No Limit (Rs. In Crores)

Name of the Bank
Term Loans WC FB & NFB Total

1 Indian Bank 333.77 103.64 437.41

2 Oriental Bank of 178.94 58.94 237.88
Commerce
3 Karur Vysya Bank / JM 133.65 68.52 202.17
Financial

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