STATE BANK OF INDIA Vs. ALOK INDUSTRIES LIMITED

JUDGEMENT

(1.) State Bank of India a body Corporate established under the State Bank of India Act, 1955 having its Corporate centre at State Bank Bhavan, Madam Cama Road, Mumbai-400021 filed this application to initiate Corporate Insolvency resolution process in respect of Alok Industries Limited under the Insolvency and Bankruptcy Code, 2016.

(2.) It is stated that vide separate gazette notifications each dated February 22nd, 2017 State Bank of Hyderabad, State Bank of Patiala, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur have merged into SBI with effect from April 01, 2017.

(3.) For the purpose of this application various facilities granted to Alok Industries by the Associate Banks prior to the effect of merger is now considered as of facilities of State Bank of India.