Piramal Capital & Housing Finance Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tulsi Spices and Foods Private Limited (Corporate Debtor). The Financial Creditor had extended a project loan facility to Shree Baladevjew Infrastructure (Co-Borrower) and the Corporate Debtor as a Co-Borrower. The loan was sanctioned on 17.05.2013, and the Corporate Debtor defaulted on 01.12.2014. The loan account was classified as a Non-Performing Asset (NPA) on 31.03.2015. Despite various demand notices and enforcement proceedings under the SARFAESI Act, and multiple One Time Settlement (OTS) proposals from the Co-Borrower, no repayment was made. The total amount claimed in default as of 31.12.2025 is Rs.
…Piramal Capital & Housing Finance Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Tulsi Spices and Foods Private Limited (Corporate Debtor).
The Financial Creditor extended a project loan facility to Shree Baladevjew Infrastructure (Co-Borrower) and the Corporate Debtor as Co-Borrower.
Security and finance documents, including a Loan Agreement, Personal Guarantee Deeds, Equitable Mortgage Deeds, Escrow Agreement, Demand Promissory Note, and Hypothecation of Receivables, were executed.
The loan was sanctioned on 17.05.2013, and the Loan Agreement and security documents were executed on 22.05.2013.
The total sanctioned amount was Rs. 7,55,00,000/-, disbursed in tranches between 22.05.2013 and 29.01.2015.
…Sign in to view the parties.
The project…
The Loan Agreement and connected security…
Piramal Capital & Housing Finance Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Tulsi Spices and Foods Private Limited (Corporate Debtor). The Financial Creditor had extended a project loan facility to Shree Baladevjew Infrastructure (Co-Borrower) and the Corporate Debtor as a Co-Borrower. The loan was sanctioned on 17.05.2013, and the Corporate Debtor defaulted on 01.12.2014. The loan account was classified as a Non-Performing Asset (NPA) on 31.03.2015. Despite various demand notices and enforcement proceedings under the SARFAESI Act, and multiple One Time Settlement (OTS) proposals from the Co-Borrower, no repayment was made. The total amount claimed in default as of 31.12.2025 is Rs.
…Piramal Capital & Housing Finance Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Tulsi Spices and Foods Private Limited (Corporate Debtor).
The Financial Creditor extended a project loan facility to Shree Baladevjew Infrastructure (Co-Borrower) and the Corporate Debtor as Co-Borrower.
Security and finance documents, including a Loan Agreement, Personal Guarantee Deeds, Equitable Mortgage Deeds, Escrow Agreement, Demand Promissory Note, and Hypothecation of Receivables, were executed.
The loan was sanctioned on 17.05.2013, and the Loan Agreement and security documents were executed on 22.05.2013.
The total sanctioned amount was Rs. 7,55,00,000/-, disbursed in tranches between 22.05.2013 and 29.01.2015.
…The project…
The Loan Agreement and connected security…