Canara Bank initiated Corporate Insolvency Resolution Process (CIRP) against Sri Krishna Stockist & Traders Pvt Ltd. Mr. Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and it was observed that the Corporate Debtor's assets were significantly diminished, with previous attempts to sell mortgaged assets under SARFAESI having failed. The CoC, with 100% voting share, resolved to liquidate the Corporate Debtor. Several Interlocutory Applications (IAs) were filed, including one for liquidation and another for the extension of the CIRP period.
Canara Bank filed a Section 7 petition, leading to the admission of Corporate Insolvency Resolution Process (CIRP) against Sri Krishna Stockist & Traders Pvt Ltd on 20.08.2025.
Mr. Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) for the Corporate Debtor.
A public announcement for claims was made on 23.08.2025, with a deadline of 03.09.2025.
Claims were received from Canara Bank, IFCI Limited, and IDBI Bank Limited as Secured Financial Creditors, and from the Income Tax Department as an Operational Creditor.
The Committee of Creditors (CoC) was constituted on 10.09.2025, comprising Canara Bank (69.8% voting share), IFCI Limited (19.0%), and IDBI Bank Limited (11.2%).
…Sign in to view the parties.
Canara Bank's Section 7 petition admitted,…
Public announcement…
Canara Bank initiated Corporate Insolvency Resolution Process (CIRP) against Sri Krishna Stockist & Traders Pvt Ltd. Mr. Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and it was observed that the Corporate Debtor's assets were significantly diminished, with previous attempts to sell mortgaged assets under SARFAESI having failed. The CoC, with 100% voting share, resolved to liquidate the Corporate Debtor. Several Interlocutory Applications (IAs) were filed, including one for liquidation and another for the extension of the CIRP period.
Canara Bank filed a Section 7 petition, leading to the admission of Corporate Insolvency Resolution Process (CIRP) against Sri Krishna Stockist & Traders Pvt Ltd on 20.08.2025.
Mr. Chillale Rajesh was appointed as the Interim Resolution Professional (IRP) for the Corporate Debtor.
A public announcement for claims was made on 23.08.2025, with a deadline of 03.09.2025.
Claims were received from Canara Bank, IFCI Limited, and IDBI Bank Limited as Secured Financial Creditors, and from the Income Tax Department as an Operational Creditor.
The Committee of Creditors (CoC) was constituted on 10.09.2025, comprising Canara Bank (69.8% voting share), IFCI Limited (19.0%), and IDBI Bank Limited (11.2%).
…Canara Bank's Section 7 petition admitted,…
Public announcement…