- (1.) The DBS Bank Limited (for brevity 'Bank') has filed the instant application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'the Code') in its capacity as 'Financial Creditor'. The prayer made by the Bank is that corporate insolvency resolution process may be initiated against Edu Smart Services Private Limited -'Corporate Debtor' for its inability to pay debts. According to the averments made by the 'Financial Creditor', the Bank is a body corporate incorporated in Singapore. It has its head Office at 12, Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore-018982 and its Branch Office is at Capital Point, Baba Kharak Singh Marg, Connaught Place, New Delhi-110 001. The 'Corporate Debtor'-Respondent has also been incorporated in Delhi on 02.07.2009 with authorised share capital of Rs. 825,000,000/- . The paid up share capital is Rs.450,100,000/-.
(2.) The Bank has also proposed the name of Interim Resolution Professional, Ms. Ritu Rastogi, D-2/33, 2nd Floor, Janak Puri, New Delhi.
(3.) The Bank has disclosed that a term loan amounting to Rs.500 millions was sanctioned on 12.10.2011 and it was disbursed on 19.10,2011, Another credit facilities of Rs. 175 million was again sanctioned on 18.07,2013 and of this Rs. 1,35,000,000/- was disbursed on different dates as are given below:- JUDGEMENT_110_LAWS(NCLT)6_2017_1.html;