ICICI Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Siddhanath Cotex Private Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of financial debt.
ICICI Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shree Siddhanath Cotex Private Limited.
The petition was filed on 10.12.2025.
The outstanding financial debt was Rs. 23,87,81,722.78 as on 04.12.2025 including interest.
The Corporate Debtor, Shree Siddhanath Cotex Private Limited, was incorporated on 25.03.2008.
The Financial Creditor sanctioned working capital facilities to the Corporate Debtor vide Credit Arrangement Letter dated 25.11.2022 for Rs. 14,00,00,000 and further facilities dated 04.02.2023 for Rs. 13,00,00,000, renewed on 29.12.2023 for total Rs. 27,00,00,000.
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The Company Pet…
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ICICI Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Siddhanath Cotex Private Limited for initiation of Corporate Insolvency Resolution Process (CIRP) due to default in payment of financial debt.
ICICI Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shree Siddhanath Cotex Private Limited.
The petition was filed on 10.12.2025.
The outstanding financial debt was Rs. 23,87,81,722.78 as on 04.12.2025 including interest.
The Corporate Debtor, Shree Siddhanath Cotex Private Limited, was incorporated on 25.03.2008.
The Financial Creditor sanctioned working capital facilities to the Corporate Debtor vide Credit Arrangement Letter dated 25.11.2022 for Rs. 14,00,00,000 and further facilities dated 04.02.2023 for Rs. 13,00,00,000, renewed on 29.12.2023 for total Rs. 27,00,00,000.
…The Company Pet…
Order delivered…