The South Indian Bank Ltd filed a petition under Section 7 of the IBC, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Nellai Plantations Private Limited, citing default on financial debt.
The South Indian Bank Ltd, the Financial Creditor, filed a petition under Section 7 of the IBC, 2016, to initiate CIRP against M/s. Nellai Plantations Private Limited.
The Corporate Debtor, M/s. Nellai Plantations Private Limited, was sanctioned a Cash Credit Agricultural Loan (CCAL) and a Term Loan (FSL Agri Loan), both disbursed on 06.12.2017.
The loan accounts were classified as Non-Performing Assets (NPA) on 21.05.2025 due to the Corporate Debtor's default in repayment.
The total sum of Rs. 2,92,54,657.38 was due and payable by M/s. Nellai Plantations Private Limited as on 10.11.2025.
The Respondent/Corporate Debtor contended that the application was misconceived, frivolous, and incomplete under Section 7(2) of the IBC, 2016.
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The South Indian Bank Ltd filed a petition under Section 7 of the IBC, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Nellai Plantations Private Limited, citing default on financial debt.
The South Indian Bank Ltd, the Financial Creditor, filed a petition under Section 7 of the IBC, 2016, to initiate CIRP against M/s. Nellai Plantations Private Limited.
The Corporate Debtor, M/s. Nellai Plantations Private Limited, was sanctioned a Cash Credit Agricultural Loan (CCAL) and a Term Loan (FSL Agri Loan), both disbursed on 06.12.2017.
The loan accounts were classified as Non-Performing Assets (NPA) on 21.05.2025 due to the Corporate Debtor's default in repayment.
The total sum of Rs. 2,92,54,657.38 was due and payable by M/s. Nellai Plantations Private Limited as on 10.11.2025.
The Respondent/Corporate Debtor contended that the application was misconceived, frivolous, and incomplete under Section 7(2) of the IBC, 2016.
…The date on which the…
The date on which the…