Saffron Gems Private Limited (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Antique Exim Private Limited (Corporate Debtor) for the initiation of Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default in payment of an outstanding financial debt of Rs. 1,48,03,562/-, including interest. The loan of Rs. 1,35,00,000/- was disbursed in six tranches during September 2025, with an original repayment due date of 03.11.2025. Despite the Corporate Debtor admitting indebtedness and seeking extensions, it failed to repay the debt by the extended deadline of 04.01.2026, leading to the default crystallizing on 18.01.2026.

Saffron Gems Private Limited (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Antique Exim Private Limited (Corporate Debtor) for the initiation of Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a default in payment of an outstanding financial debt of Rs. 1,48,03,562/-, including interest. The loan of Rs. 1,35,00,000/- was disbursed in six tranches during September 2025, with an original repayment due date of 03.11.2025. Despite the Corporate Debtor admitting indebtedness and seeking extensions, it failed to repay the debt by the extended deadline of 04.01.2026, leading to the default crystallizing on 18.01.2026.