J&K Integrated Textile Park Limited (Financial Creditor) filed a Section 7 IBC petition against SILKLON PROCESSORS PRIVATE LIMITED (Corporate Debtor) due to defaults on unsecured loans and lease rent. The NCLT initially dismissed the petition, ruling no financial debt existed.
J&K Integrated Textile Park Limited (Financial Creditor) filed CP (IB) No.309/Chd/J&K/2023 under Section 7 of the IBC against SILKLON PROCESSORS PRIVATE LIMITED (Corporate Debtor).
The Financial Creditor is a Special Purpose Vehicle incorporated to implement the Scheme for Integrated Textiles Park (SITP) launched by the Government of India in 2005.
J&K State Industrial Development Corporation Limited (JKSIDCO) granted a 90-year lease of 200 Kanals of land at Industrial Estate, Kathua, to the Financial Creditor by Lease Deed dated 22.03.2012, for a premium of Rs. 3,00,00,000/-.
Tripartite Agreements were executed in May 2017 among JKSIDCO, the Financial Creditor, and industrial units, including the Corporate Debtor.
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Scheme for Integrated Textiles Park (SITP)…
J&K State Industrial Development Corporation…
J&K Integrated Textile Park Limited (Financial Creditor) filed a Section 7 IBC petition against SILKLON PROCESSORS PRIVATE LIMITED (Corporate Debtor) due to defaults on unsecured loans and lease rent. The NCLT initially dismissed the petition, ruling no financial debt existed.
J&K Integrated Textile Park Limited (Financial Creditor) filed CP (IB) No.309/Chd/J&K/2023 under Section 7 of the IBC against SILKLON PROCESSORS PRIVATE LIMITED (Corporate Debtor).
The Financial Creditor is a Special Purpose Vehicle incorporated to implement the Scheme for Integrated Textiles Park (SITP) launched by the Government of India in 2005.
J&K State Industrial Development Corporation Limited (JKSIDCO) granted a 90-year lease of 200 Kanals of land at Industrial Estate, Kathua, to the Financial Creditor by Lease Deed dated 22.03.2012, for a premium of Rs. 3,00,00,000/-.
Tripartite Agreements were executed in May 2017 among JKSIDCO, the Financial Creditor, and industrial units, including the Corporate Debtor.
…Scheme for Integrated Textiles Park (SITP)…
J&K State Industrial Development Corporation…