IDBI BANK LIMITED Vs. JAYPEE INFRATECH LIMITED

JUDGEMENT

(1.) The applicant IDBI Limited (for brevity Financial Creditor) has filed the present petition u/s. 7 of the Insolvency & Bankruptcy Code, 2016 read [hereinafter referred to as "the Code") with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to initiate the Corporate Insolvency Resolution Process in respect of the respondent corporate debtor company M/s. Jaypee Infratech Ltd. The Brief facts of the present case are slated as under:

(2.) By perusal of the application filed by Financial creditor it appears to be found complete as being in conformity with the provision of Section 7 of the Code and Rules applicable. The provision of Section 7 of the Code reads as under:

(3.) From the perusal of documents annexed with the present petition, it is evident the default has occurred, that meets the requirement of Section 3(11) & (12) of the Code.