Small Industries Development Bank of India (SIDBI), as the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Darsh Pharmachem Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default in payment of financial debt amounting to Rs. 1,03,70,394.48 as on 10.08.2026. The Corporate Debtor disputed the amount, interest calculations, FDR adjustments, and contended that the default amount did not meet the statutory threshold of Rs. 1 Crore, arguing that the petition was defective, premature, and incomplete.
The Small Industries Development Bank of India (SIDBI), as the Financial Creditor, filed a Company Petition against Darsh Pharmachem Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition, registered on August 31, 2026, sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to a default in payment of a financial debt amounting to Rs. 1,03,70,394.48 as of August 10, 2026. The Financial Creditor is a corporation established under the Small Industries Development Bank of India Act, 1989, and the petition was filed through its Deputy General Manager (Legal), Mr. Praveen Mithal, who was authorized under Regulations 10 and 11 of the Small Industries Development Bank of India (General Regulations), 2000.
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Small Industries Development Bank of India…
First tranche of Rs. 1.94 Crores disbursed.…
Small Industries Development Bank of India (SIDBI), as the Financial Creditor, filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Darsh Pharmachem Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default in payment of financial debt amounting to Rs. 1,03,70,394.48 as on 10.08.2026. The Corporate Debtor disputed the amount, interest calculations, FDR adjustments, and contended that the default amount did not meet the statutory threshold of Rs. 1 Crore, arguing that the petition was defective, premature, and incomplete.
The Small Industries Development Bank of India (SIDBI), as the Financial Creditor, filed a Company Petition against Darsh Pharmachem Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition, registered on August 31, 2026, sought to initiate the Corporate Insolvency Resolution Process (CIRP) due to a default in payment of a financial debt amounting to Rs. 1,03,70,394.48 as of August 10, 2026. The Financial Creditor is a corporation established under the Small Industries Development Bank of India Act, 1989, and the petition was filed through its Deputy General Manager (Legal), Mr. Praveen Mithal, who was authorized under Regulations 10 and 11 of the Small Industries Development Bank of India (General Regulations), 2000.
…Small Industries Development Bank of India…
First tranche of Rs. 1.94 Crores disbursed.…