Page 591 - IBC Orders us 7-CA Mukesh Mohan

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

IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH

C.P. (I.B.) No. 12/7/NCLT/MAH/2017

Decided On: 17.02.2017

Applicant: ICICI Bank Limited
Vs.
Respondent: Starlog Enterprises Limited

Judges/Coram:
Hon'ble Sh. B. S. V. Prakash Kumar, Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. Shyam Kapadia, Ms. Shreevandhini Parchure and Ms. Isha
Maniar, Learned Advocates

For Respondents/Defendant:

ORDER

Hon'ble Sh. B. S. V. Prakash Kumar, Member (J)

The petitioner i.e., ICICI Bank, having failed to realize outstanding dues from the Corporate Debtor i.e.,

Starlog Enterprises Limited in respect to the loan facilities the petitioner granted, filed this petition u/s 7
of The Insolvency and Bankruptcy Code 2016(herein after referred as "Code"), seeking for admission of

this petition declaring moratorium on the Corporate Debtor Company, direction for public

announcement of initiation of corporate insolvency process and call for the submission of claims u/s 15
and appointment of interim resolution professional as prescribed under the Code and Rules thereon.

2. The Petitioner, Financial Creditor, granted Rs. 230rnillion Rupee Term Loan facility (RTL

Facility) on an agreement entered on October 19,2011, thereafter disbursed the same, apart from this,
this petitioner also granted Rs. 160 million Working Capital Term Loan Facility (WCTL Facility) on an

agreement dated March 2014 and disbursed the same on March 6, 2014.

3. Besides the above two facilities, this petitioner already granted Rs. 20.4 million Working Capital
Bank Guarantee facility (BG Facility) basing on facility agreement dated October 27, 2007 with

utilization date as February 02, 2017.

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