An application was filed by an Operational Creditor, Ms. Babitha Sancheti, under Section 9 of the IBC, leading to the admission of the Corporate Debtor, Sakthi Ganesh Textiles Pvt Ltd, into CIRP on July 31, 2025. Mr. S. Kangayan was appointed as the Interim Resolution Professional (IRP). A public announcement was made on August 1, 2024, inviting claims, with the last date for submission being August 13, 2024. The IRP constituted the Committee of Creditors (CoC) based on admitted claims from three members: Axis Bank (68.97%), Standard Chartered Bank (27.75%), and Oxyzo Financial Services Ltd (3.28%).

An application was filed by an Operational Creditor, Ms. Babitha Sancheti, under Section 9 of the IBC, leading to the admission of the Corporate Debtor, Sakthi Ganesh Textiles Pvt Ltd, into CIRP on July 31, 2025. Mr. S. Kangayan was appointed as the Interim Resolution Professional (IRP). A public announcement was made on August 1, 2024, inviting claims, with the last date for submission being August 13, 2024. The IRP constituted the Committee of Creditors (CoC) based on admitted claims from three members: Axis Bank (68.97%), Standard Chartered Bank (27.75%), and Oxyzo Financial Services Ltd (3.28%).