CIRP against Gupta Power Infrastructure Ltd. admitted as default of Rs. 2888 crore proved

Canara Bank Limited & Ors Vs Gupta Power Infrastructure Limited (NCLT Kolkata)

NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Gupta Power Infrastructure Limited [Corporate Debtor] admitted for default of Rs. 2888 Crore.

Facts- The application was jointly filed by a consortium of banks under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corpora

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