Bank of Maharashtra (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Comet Granito Private Limited (Corporate Debtor) seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was based on an outstanding debt arising from a Bill Discounting/TReDS Financing Facility sanctioned by the Financial Creditor to the Corporate Debtor.
Bank of Maharashtra (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against Comet Granito Private Limited (Corporate Debtor).
The Financial Creditor is constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and provides banking services.
The Corporate Debtor is incorporated under the Companies Act, 1956, and manufactures non-structural, non-refractory ceramic ware.
The total outstanding debt claimed by the Financial Creditor is Rs.4,52,67,984/-, including principal, interest, and penal interest as of 29.09.2025.
The Financial Creditor sanctioned a Bill Discounting/TReDS Financing Facility of Rs.5,00,00,000/- to the Corporate Debtor via a Sanction Letter dated 28.06.2024.
…Sign in to view the parties.
Reserve Bank of India…
Corporate Debtor executed a Master Agreement…
Bank of Maharashtra (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Comet Granito Private Limited (Corporate Debtor) seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was based on an outstanding debt arising from a Bill Discounting/TReDS Financing Facility sanctioned by the Financial Creditor to the Corporate Debtor.
Bank of Maharashtra (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against Comet Granito Private Limited (Corporate Debtor).
The Financial Creditor is constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and provides banking services.
The Corporate Debtor is incorporated under the Companies Act, 1956, and manufactures non-structural, non-refractory ceramic ware.
The total outstanding debt claimed by the Financial Creditor is Rs.4,52,67,984/-, including principal, interest, and penal interest as of 29.09.2025.
The Financial Creditor sanctioned a Bill Discounting/TReDS Financing Facility of Rs.5,00,00,000/- to the Corporate Debtor via a Sanction Letter dated 28.06.2024.
…Reserve Bank of India…
Corporate Debtor executed a Master Agreement…