M/s. Tiruppur Surya Textiles Pvt Limited underwent Corporate Insolvency Resolution Process (CIRP) starting 2017-06-14, initiated by the Corporate Debtor itself. The CIRP period of 180 days expired on 2017-12-12, with a 30-day extension granted. The company's business, a textile mill, was already at a standstill with manufacturing units possessed by the Financial Creditor. The company's facilities are partly on its own land and partly on land owned by its promoters, lacking any formal lease agreement. The Directors are guarantors, and their lands are mortgaged to State Bank of India. The claims of debt received amounted to Rs.230.73 Crores, with Rs.166.66 Crores admitted, including Rs.165.88 Crores to Financial Creditors and Rs.0.78 Crores to Operational Creditors.

M/s. Tiruppur Surya Textiles Pvt Limited underwent Corporate Insolvency Resolution Process (CIRP) starting 2017-06-14, initiated by the Corporate Debtor itself. The CIRP period of 180 days expired on 2017-12-12, with a 30-day extension granted. The company's business, a textile mill, was already at a standstill with manufacturing units possessed by the Financial Creditor. The company's facilities are partly on its own land and partly on land owned by its promoters, lacking any formal lease agreement. The Directors are guarantors, and their lands are mortgaged to State Bank of India. The claims of debt received amounted to Rs.230.73 Crores, with Rs.166.66 Crores admitted, including Rs.165.88 Crores to Financial Creditors and Rs.0.78 Crores to Operational Creditors.