CENTRAL BANK OF INDIA Vs. RAJVIR INDUSTRIES LIMITED

JUDGEMENT

(1.) The present Company Petition bearing C.P.(lB) .No.207/7/HDB/2017 is filed by Central Bank of India u/s 7 of the Insolvency and Bankruptcy Code, 2016 R/W Rule 4 of the I&B (Application to Adjudicating Authority) Rules, 2016 by seeking to initiate Corporate Insolvency Resolution Process in the matter of M/s.Rajvir Industries Limited under IBC, 2016.

(2.) Heard, Mr. Praveen Kumar Jain, Learned Counsel for Petitioner. Mr. S.Raja Gopal, Learned Counsel for Respondent.

(3.) Mr. Praveen Kumar Jain, Learned Counsel for Petitioner submit that M/s.Rajvir Industries Limited is incorporated on 01.09.2004. The Corporate Debtor has availed debts in the form of Working Capital Term Loan under multiple banking arrangement from Financial Creditor and other leaders viz SBI, Axis Bank, ICICI, IDBI, SB of Bikaner & Jaipur, SBH and SB of Mysore.