- (1.) The applicant, State Bank of India has filed this petition under section 7 of Insolvency & Bankruptcy Code (hereinafter be referred to as the I.B. Code) , 2016 for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, M/s. Adhunik Alloys & Power Limited, CIN : U27104WB2003PLC096616. Brief facts are mentioned below.
(2.) The petitioner has stated that a loan of Rs.3,686,100,000/- was granted to the Corporate Debtor. Complete details of the loan sanctioned in different accounts and date of disbursement of loan is given in Annexure 'D' at page 100 of the petition.
(3.) The petitioner has stated that a total outstanding exposure (with the principal amounts, accrued interest and penal interest) as on 30th June, 2017 was Rs.3,299,277,414.71. The details of outstanding dues along with date of default committed by the Corporate Debtor is also given in Annexure D' The petitioner has further stated that the Corporate Debtor has committed total default of Rs.302,42,86,418.96 paise up to 30,h June, 2017 and total outstanding amount on 30th June, 2017 along with the accrued interest comes to Rs.329,92,77,414.71.;