B.S.V. Prakash Kumar, Member - (1.) It is a Company Petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor, namely Monnett Ispat and Energy Ltd., for this Corporate Debtor availed loan facility through fund based and non-fund based arrangements, thereafter this Corporate Debtor defaulted in making repayments of the loan availed. When this Corporate Debtor defaulted in making repayment, this applicant filed this application to initiate Insolvency Resolution Process against this Corporate Debtor on the ground that as on 21.6.2017 this Corporate Debtor failed to repay the outstanding balance of Rs. 1539,33,72,303.63 indebted to this creditor in relation to the loan facilities from this creditor and erstwhile Banks, namely, State Bank of Patiala, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Travancore availed, hence this petition. Brief facts of the case: 1. The details of the facilities granted and disbursements made by the creditor and its erstwhile associate banks to the Corporate Debtor are set out as below: "IMAG 1"
(2.) Since State Bank of Patiala, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Travancore have been merged with State Bank of India, with effect from 1.4.2017, the resulting bank, i.e. State Bank of India has filed this Petition for initiation of Insolvency Resolution Process on the ground that this Debtor defaulted to repay Rs. 1539,33,72,303.63 was due outstanding as on 21.6.2017.
(3.) The Financial Creditor mentioned the details and dates of disbursement which are as follows: "IMAG 2";