Shree Shankar Saw Mill Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The company defaulted on payments to State Bank of India, leading to its account being declared NPA on September 27, 2014. The company also defaulted on payments to unsecured financial creditors and operational creditors. The application was supported by a board resolution dated February 18, 2021, and consent from members via a resolution passed on March 15, 2021.
Shree Shankar Saw Mill Private Limited (CIN: U20101WB2002PTC094455) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP). The company's account with State Bank of India was declared a Non-Performing Asset (NPA) on September 27, 2014, due to defaults in payment. The company also defaulted on payments to unsecured financial creditors from March 19, 2010, and operational creditors from September 18, 2013. The total debt owed to secured financial creditors was Rs. 32,31,74,415, to unsecured financial creditors was Rs. 15,10,150, and to operational creditors was Rs. 5,65,17,881. The application was filed through its Director, Mr. Ankit Patel, authorized by a Board Resolution dated
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Shree Shankar…
Corporate Applicant…
Shree Shankar Saw Mill Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The company defaulted on payments to State Bank of India, leading to its account being declared NPA on September 27, 2014. The company also defaulted on payments to unsecured financial creditors and operational creditors. The application was supported by a board resolution dated February 18, 2021, and consent from members via a resolution passed on March 15, 2021.
Shree Shankar Saw Mill Private Limited (CIN: U20101WB2002PTC094455) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP). The company's account with State Bank of India was declared a Non-Performing Asset (NPA) on September 27, 2014, due to defaults in payment. The company also defaulted on payments to unsecured financial creditors from March 19, 2010, and operational creditors from September 18, 2013. The total debt owed to secured financial creditors was Rs. 32,31,74,415, to unsecured financial creditors was Rs. 15,10,150, and to operational creditors was Rs. 5,65,17,881. The application was filed through its Director, Mr. Ankit Patel, authorized by a Board Resolution dated
…Shree Shankar…
Corporate Applicant…