AdvertisementCanara Bank Limited Vs Globiz Exim Private Limited (NCLT Mumbai) Canara Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Global Exim Private Limited as the corporate guarantor for borrowings availed by Frost International Ltd. The Bank claimed a default of ₹7,42,06,10,813.68 as on 31.03.2025, stated the date of default to be 29.01.2025, and relied upon a demand notice dated 20.01.2025 invoking the corporate guarantee. The Bank contended that the principal borrower ha...