State Bank of India Stressed Assets Management (Financial Creditor) filed a Company Petition under Section 7 of the IBC against Suryajyoti Infotech Limited (Corporate Guarantor/Respondent No.1) for default on a financial debt of Rs. 732,17,43,319/-. The debt originated from credit facilities granted to Suryajyoti Spinning Mills Limited (Principal Borrower/Respondent No.2), for which Suryajyoti Infotech Limited provided a corporate guarantee. The Principal Borrower is already under liquidation.
State Bank of India Stressed Assets Management (Financial Creditor) filed a Company Petition under Section 7 of the IBC against Suryajyoti Infotech Limited (Corporate Debtor/Respondent No.1).
The petition seeks initiation of CIRP due to an alleged default in repayment of financial debt amounting to Rs. 732,17,43,319/- as on 09.05.2023.
Suryajyoti Infotech Limited (Respondent No.1) is the Corporate Guarantor for credit facilities granted to Suryajyoti Spinning Mills Limited (Principal Borrower/Respondent No.2).
The Principal Borrower is under liquidation pursuant to an order dated 18.04.2023.
The Principal Borrower availed Rupee Term Loans, Foreign Currency Loans, Corporate Loans, and Working Capital facilities from the Financial Creditor.
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State Bank of India Stressed Assets Management (Financial Creditor) filed a Company Petition under Section 7 of the IBC against Suryajyoti Infotech Limited (Corporate Guarantor/Respondent No.1) for default on a financial debt of Rs. 732,17,43,319/-. The debt originated from credit facilities granted to Suryajyoti Spinning Mills Limited (Principal Borrower/Respondent No.2), for which Suryajyoti Infotech Limited provided a corporate guarantee. The Principal Borrower is already under liquidation.
State Bank of India Stressed Assets Management (Financial Creditor) filed a Company Petition under Section 7 of the IBC against Suryajyoti Infotech Limited (Corporate Debtor/Respondent No.1).
The petition seeks initiation of CIRP due to an alleged default in repayment of financial debt amounting to Rs. 732,17,43,319/- as on 09.05.2023.
Suryajyoti Infotech Limited (Respondent No.1) is the Corporate Guarantor for credit facilities granted to Suryajyoti Spinning Mills Limited (Principal Borrower/Respondent No.2).
The Principal Borrower is under liquidation pursuant to an order dated 18.04.2023.
The Principal Borrower availed Rupee Term Loans, Foreign Currency Loans, Corporate Loans, and Working Capital facilities from the Financial Creditor.
…Security Trustee…
Corporate Guarantee…