Vijai Pratap Singh, Member - (1.) The Financial Creditor, State Bank of India has filed an application under section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiation of Corporate Insolvency Resolution Process under the Code.
(2.) Brief facts of the case are that the Financial Creditor, State Bank of India is a Body Corporate established under the State Bank of India Act, 1955 and by Government Notification dated 22nd February, 2017, Associate Banks of SBI, i.e., State Bank of Hyderabad (S.B.H.) , State Bank of Patiala (S.B.P.) State Bank of Travancore (S.B.T.) and State Bank of Mysore (S.B.M.) have merged into State Bank of India w.e.f. 1st April, 2017. Copies of the Gazettee Notification is annexed as Annexure-1 of the petition. Permanent Account Number of the Financial Creditor is AAACS8577K and Shri S. P. Behera, acting as Assistant General manager with the Financial Creditor, State Bank of India is authorised to file this application, pursuant to Regulation 77 of the State Bank of India General Regulations, 1955 read with Gazette Notification dated 31st August, 2005 issued by the Order of the Executive Committee of the Central Board of SBI. The authorisation letter dated 31st August, 2005 is annexed as Annexure-2.
(3.) The Identification Number of the Corporate Debtor, Electrosteel Steels Limited is L27310JH2006PLC012663.;