Srei Equipment Finance Ltd (Financial Creditor) initiated a Corporate Insolvency Resolution Process (CIRP) against Vijay Mining & Infra Corp Pvt Ltd (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), for a default amount of Rs.126,86,69,150/- as of 14.10.2025. The debt originated from various financial facilities, which were later restructured through Master Facility Agreements and a Terms of Settlement (ToS) dated 30.11.2020, where a settlement of Rs.55,00,00,000/- was agreed upon. The Corporate Debtor failed to adhere to the repayment schedule, leading to the Financial Creditor's cancellation of the ToS and subsequent filing of the Section 7 petition. The petition faced initial procedural hurdles, including defect notices and a
…Srei Equipment Finance Ltd (Financial Creditor) filed a Section 7 IBC petition against Vijay Mining & Infra Corp Pvt Ltd (Corporate Debtor) for defaulting on a debt of Rs.126,86,69,150/- as on 14.10.2025.
The Financial Creditor is a registered Non-Banking Financial Company (NBFC), and the Corporate Debtor is in the business of engineering and mining projects.
The Corporate Debtor availed various financial facilities from the Financial Creditor, which were subsequently restructured through Master Facility Agreements (MFAs) dated 15.05.2019, totaling Rs.109,15,00,001/-.
The Corporate Debtor executed ten deeds of hypothecation to secure the credit facilities.
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Srei Equipment Finance Ltd (Financial Creditor) initiated a Corporate Insolvency Resolution Process (CIRP) against Vijay Mining & Infra Corp Pvt Ltd (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), for a default amount of Rs.126,86,69,150/- as of 14.10.2025. The debt originated from various financial facilities, which were later restructured through Master Facility Agreements and a Terms of Settlement (ToS) dated 30.11.2020, where a settlement of Rs.55,00,00,000/- was agreed upon. The Corporate Debtor failed to adhere to the repayment schedule, leading to the Financial Creditor's cancellation of the ToS and subsequent filing of the Section 7 petition. The petition faced initial procedural hurdles, including defect notices and a
…Srei Equipment Finance Ltd (Financial Creditor) filed a Section 7 IBC petition against Vijay Mining & Infra Corp Pvt Ltd (Corporate Debtor) for defaulting on a debt of Rs.126,86,69,150/- as on 14.10.2025.
The Financial Creditor is a registered Non-Banking Financial Company (NBFC), and the Corporate Debtor is in the business of engineering and mining projects.
The Corporate Debtor availed various financial facilities from the Financial Creditor, which were subsequently restructured through Master Facility Agreements (MFAs) dated 15.05.2019, totaling Rs.109,15,00,001/-.
The Corporate Debtor executed ten deeds of hypothecation to secure the credit facilities.
…Board Resolution of the…
Power of Attorney issued by the Chief Executive…