Excellence Finance Private Limited, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Satiate Agri Limited, the Corporate Debtor, under Section 7 of the IBC, 2016. The petition was filed due to a default in repayment of a financial debt amounting to Rs. 6,27,09,615/- as of March 31, 2026. The Corporate Debtor admitted the debt and default but sought a six-month period to repay, citing temporary financial constraints.
Excellence Finance Pvt Ltd (Financial Creditor) filed a petition under Section 7 of the IBC against Satiate Agri Ltd (Corporate Debtor).
The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) for a financial debt of Rs. 6,27,09,615/-, including interest, as of 31.03.2026.
The Corporate Debtor availed two loan facilities from the Financial Creditor, totaling a principal amount of Rs. 6,00,00,000/-, secured by a pledge of shares of Aadi Chemtrade Limited.
The loans became due and payable on 31.03.2026, and the Corporate Debtor failed to repay them.
The Financial Creditor issued demand notices via e-mail on 15.04.2026 and speed post on 12.05.2026, which were delivered on 16.05.2026.
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Corporate Debtor availed…
Disbursement of the…
Excellence Finance Private Limited, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Satiate Agri Limited, the Corporate Debtor, under Section 7 of the IBC, 2016. The petition was filed due to a default in repayment of a financial debt amounting to Rs. 6,27,09,615/- as of March 31, 2026. The Corporate Debtor admitted the debt and default but sought a six-month period to repay, citing temporary financial constraints.
Excellence Finance Pvt Ltd (Financial Creditor) filed a petition under Section 7 of the IBC against Satiate Agri Ltd (Corporate Debtor).
The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) for a financial debt of Rs. 6,27,09,615/-, including interest, as of 31.03.2026.
The Corporate Debtor availed two loan facilities from the Financial Creditor, totaling a principal amount of Rs. 6,00,00,000/-, secured by a pledge of shares of Aadi Chemtrade Limited.
The loans became due and payable on 31.03.2026, and the Corporate Debtor failed to repay them.
The Financial Creditor issued demand notices via e-mail on 15.04.2026 and speed post on 12.05.2026, which were delivered on 16.05.2026.
…Corporate Debtor availed…
Disbursement of the…