P K Saikia, Member - (1.) This application under Section 7 of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as 'the Code of 2016') read with the Rule 4 of Application to (Adjudicating Authority) Rules 2016 (in short, 'Rules of 2016') has been filed by Seri Infrastructure (P) Ltd. (hereinafter referred to as Financial Creditor (in short 'FC') seeking initiation of corporate insolvency resolution process against Assam Company India Ltd. (hereinafter referred to as 'CD') .
(2.) The facts, necessary for disposal of the present proceeding, as is evident from the application under Section 7 of the Code of 2016 and documents furnished therewith, are that the Financial Creditor (in short "FC") herein is a Public Limited Company incorporated under the Companies Act, 1956, having its Registered Office at 86C, Topsia Road (South) , Kolkata-700046 and its Corporate Office at Room N0.12 and 13,6A, Kiran Shankar Roy Road, Kolkata-700 001, which has been declared as "Public Financial Institution" under Section 4A of the Companies Act of 1956 (in short'Act 1956') .
(3.) One, Gujrat Hydrocarbons & Power SEZ Limited, with Registered Office at 301, J.K. Apartment, VIPPS Centre, Local Shopping Centre, Masjid Moth, Greater Kailash-1, New Delhi 110048 (herein after referred to as Principal Borrower) had approached the Financial Creditor with a proposal seeking term loan amounting to Rs.100 crores.;