The National Company Law Tribunal (NCLT), has admitted insolvency claim against M/s Hellios Tubealloys Pvt, a mumbai based firm, who had availed financial assistance from Bank of Baroda (BOB), securing a term loan of Rs 3.66 crore and additional credit facilities amounting to Rs 30.05 crore.
Hellios Tubealloys Pvt. Ltd. was engaged in the manufacturing and export of stainless steel and alloy steel pipes. The company had availed financial assistance from Bank of Baroda (BOB), securing a term loan of Rs 3.66 crore and additional credit facilities amounting to Rs 30.05 crore. However, due to adverse market conditions and operational difficulties, the company failed to regularize…
