Bikki Raveendra Babu, Member - (1.) Learned Advocate Mr. Sahil Shah with Learned Advocate Mr. Abhishek Mukherjee i/b Cyril Amarchand Mangaldas present for Financial Creditor/Applicant. Learned Advocate Mr. Parth Contractor present for Respondent. Order pronounced in open Court. Vide separate sheet. ICICI Bank Ltd. (hereinafter called as applicant/financial creditor) having its registered office at Vadodara, Gujarat through its General Power of Attorney holder Bhairavi Deshpande has filed this application to initiate Corporate Insolvency Resolution Process in respect of ABG Shipyard Ltd. (hereinafter referred as respondent/corporate debtor) under Section 9 of The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "the Code") read with Rule 4 and 9 of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (hereinafter referred to as "the Rules").
(2.) M/S. ABG Shipyard Limited, is a company incorporated under the Companies Act having its Registered Office at Magdalla Village, Opp. Dumas Road, Dist. Surat. Authorised share capital of M/s. ABG Shipyard Limited, is Rs. 170,00,00,000/-. Paid up share capital of the company is Rs. 201,50,46,640/-.
(3.) Financial creditors granted several loan facilities to the corporate debtors under Master Restructuring Agreement (MRA) dated 28.03.2014, the first amendment agreement to MRA dated 30.07.2014, and 2nd amendment agreement dated 09.09.2014.;