M/s Sai Kripa Indenting (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sneh Olefins Private Limited (Corporate Debtor) for an unpaid operational debt of Rs. 38,28,15,122.64/-. The debt arose from the supply of polymer products on 45-day credit terms between December 2024 and September 2025. The Corporate Debtor acknowledged the debt but cited liquidity constraints due to SARFAESI actions by its secured lenders (State Bank of India, Punjab National Bank) as the reason for non-payment.
M/s Sai Kripa Indenting (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Sneh Olefins Private Limited (Corporate Debtor).
The petition seeks to initiate Corporate Insolvency Resolution Process (CIRP) due to alleged non-payment of operational dues amounting to Rs. 38,28,15,122.64/- as on 17.03.2026.
The Operational Creditor is a proprietary trading firm supplying polymer products, and the Corporate Debtor is engaged in wholesale trading of similar products.
The Operational Creditor supplied polymer products to the Corporate Debtor from December 2024 to September 2025 on agreed credit terms of 45 days.
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M/s Sai Kripa Indenting commenced supply of…
Default commenced on the earliest invoice…
M/s Sai Kripa Indenting (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Sneh Olefins Private Limited (Corporate Debtor) for an unpaid operational debt of Rs. 38,28,15,122.64/-. The debt arose from the supply of polymer products on 45-day credit terms between December 2024 and September 2025. The Corporate Debtor acknowledged the debt but cited liquidity constraints due to SARFAESI actions by its secured lenders (State Bank of India, Punjab National Bank) as the reason for non-payment.
M/s Sai Kripa Indenting (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, against Sneh Olefins Private Limited (Corporate Debtor).
The petition seeks to initiate Corporate Insolvency Resolution Process (CIRP) due to alleged non-payment of operational dues amounting to Rs. 38,28,15,122.64/- as on 17.03.2026.
The Operational Creditor is a proprietary trading firm supplying polymer products, and the Corporate Debtor is engaged in wholesale trading of similar products.
The Operational Creditor supplied polymer products to the Corporate Debtor from December 2024 to September 2025 on agreed credit terms of 45 days.
…M/s Sai Kripa Indenting commenced supply of…
Default commenced on the earliest invoice…