CHIRAG GADA Vs. BANK OF BARODA

JUDGEMENT

(1.) This application is filed by the Managing Director of corporate Debtor under section 10 of The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "the Code") read with Rule 4 of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (hereinafter referred to as "the Rules") with a prayer to trigger Corporate Insolvency process in respect of M/s. Ruby Cables Ltd.

(2.) The facts in brief that are necessary for disposal of this application are as follows:-

(3.) M/S. Ruby Cables Ltd. /corporate debtor was incorporated on 24.12.1996 under the Companies Act, 1956 with the Registrar of Companies, Gujarat as a limited company having its registered office at 15, GIDC Estate, Manjusar, Tal. Savli, Dist. Vadodara 391 775, Gujarat State. Authorised share capital of the company as on date is Rs. 10,00,00,000/- divided into 1,00,00,000 equity shares of Rs. 10/- each. Issued, subscribed and paid up share capital is Rs. 6,25,10,000/- divided into 62,51,000 equity shares of Rs. 10/- each.