Page 99 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
Hon’ble NCLT Principal Bench

Rs.50,47,37,910/- (Rs. Fifty crore Forty Seven lacs Thirty Seven thousand Nine hundred and Ten only).

3. Copies of its Memorandum of Association and Articles of Association have been placed on
record (Annexure A-3). Corporate Debtor has been incorporated under the provision of the Companies
Act, 1956 and its registered office is situated at 106, Vishwadeep Tower, plot No.4 District Centre

Janakpuri New Delhi -110058.

4. The 'Financial Creditor' has also proposed interim Resolution Professional namely Mr.

Venkatesan Sankaranarayanan who has been registered with the IBBI with registration No. IBBVIPA-
001/IP-P00123/20172018/10265. The proposed resolution professional has sent written communication

making necessary disclosures in accordance with the provision of Rule 9 of the Insolvency and
Bankruptcy (Application to Adjudicating Authority) Rule 2016, Thus it satisfy the requirement of section
7(3)(b) of the Code. The 'Financial Creditor' has also disclosed the particulars of financial debt granted by

it to the 'Corporate Debtor' through its predecessor in interest namely State Bank of India CM"), the
predecessor in interest of the Financial Creditor. The following debts were advanced to the Corporate
Debtor:

1. Working capital facilities of Rs.2125 crores ( Rs. Two thousand one hundreds twenty five
crores only) under the Working Capital Consortium Agreement dated 26.4.2013.

Subsequently, the working capital facilities were renewed and enhanced to Rs.2350 Crores
(Rs. Two thousand Three hundred Fifty crores only) vide Working Capital Consortium
Agreement dated 7.8.2013. As per Article 1, pars 6 of the said Working Capital Consortium

Agreement, the facilities extended comprised of following facilities:

(a) Cash Credit-1

(b) Cash credit-2

(c) Bank Guarantees

These facilities have been collectively named as "Facility A".

2. Further, a Short Term Loan of Rs.15O crores (Rs. One Hundred Fifty crores) under
Agreement of Loan for overall Limit dated 25.2.2014 which has been named as "Facility

B"

(Facility A and Facility B have been collectively referred as "the facilities")

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