Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited due to a default amount of INR 283,95,36,232.68 as of 31.10.2024. The Corporate Debtor is a Special Purpose Vehicle (SPV) incorporated for the execution of a road project.
Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited.
The default amount was INR 283,95,36,232.68 as of 31.10.2024, with the original date of default being 31.12.2015.
The Corporate Debtor is a Special Purpose Vehicle (SPV) incorporated on 29.11.2010 for the execution of the Four laning of Ahmednagar-Karmala-Tembhurni Road S.H.141.
The Corporate Debtor availed a loan from a consortium of lenders, including Canara Bank, for the BOT Project granted by the Public Works Department (PWD).
The Corporate Debtor executed a Revival Letter dated 12.04.2021, acknowledging the liability towards the consortium of lenders, including the Financial Creditor.
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Supreme Ahmednagar…
Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited due to a default amount of INR 283,95,36,232.68 as of 31.10.2024. The Corporate Debtor is a Special Purpose Vehicle (SPV) incorporated for the execution of a road project.
Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited.
The default amount was INR 283,95,36,232.68 as of 31.10.2024, with the original date of default being 31.12.2015.
The Corporate Debtor is a Special Purpose Vehicle (SPV) incorporated on 29.11.2010 for the execution of the Four laning of Ahmednagar-Karmala-Tembhurni Road S.H.141.
The Corporate Debtor availed a loan from a consortium of lenders, including Canara Bank, for the BOT Project granted by the Public Works Department (PWD).
The Corporate Debtor executed a Revival Letter dated 12.04.2021, acknowledging the liability towards the consortium of lenders, including the Financial Creditor.
…The present App…
Supreme Ahmednagar…