M/s Shree Geeta Textiles Mills Private Limited (Corporate Debtor), incorporated on July 30, 2008, and engaged in textile manufacturing, defaulted on financial facilities totaling Rs. 58.71 crores from Bank of India and Bank of Baroda. Consequently, its account was classified as a Non-Performing Asset (NPA) on March 31, 2019. Bank of India initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) on June 7, 2023. The CIRP commenced on November 13, 2024, with Ms. Chaya Gupta initially appointed as the Interim Resolution Professional (IRP), who was later replaced by CA Nishant Agrawal as the Resolution Professional (RP) on February 5, 2025. The Committee of Creditors (CoC)
…M/s Shree Geeta Textiles Mills Private Limited (Corporate Debtor) was incorporated on July 30, 2008.
The Corporate Debtor availed Rs. 58.71 crores in financial facilities from a consortium including Bank of India and Bank of Baroda.
The Corporate Debtor's account was classified as Non-Performing Asset (NPA) by lenders on March 31, 2019.
Bank of India filed a petition under Section 7 of the IBC, 2016, against the Corporate Debtor on June 7, 2023.
The CIRP against the Corporate Debtor commenced on November 13, 2024.
Ms. Chaya Gupta was initially appointed as the Interim Resolution Professional (IRP) on November 13, 2024.
A Public Announcement in Form-A was issued by the IRP on November 16, 2024.
The Committee of Creditors (CoC) was constituted on December 5, 2024.
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M/s Shree Geeta…
The Corporate Debtor's account was classified…
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M/s Shree Geeta Textiles Mills Private Limited (Corporate Debtor), incorporated on July 30, 2008, and engaged in textile manufacturing, defaulted on financial facilities totaling Rs. 58.71 crores from Bank of India and Bank of Baroda. Consequently, its account was classified as a Non-Performing Asset (NPA) on March 31, 2019. Bank of India initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) on June 7, 2023. The CIRP commenced on November 13, 2024, with Ms. Chaya Gupta initially appointed as the Interim Resolution Professional (IRP), who was later replaced by CA Nishant Agrawal as the Resolution Professional (RP) on February 5, 2025. The Committee of Creditors (CoC)
…M/s Shree Geeta Textiles Mills Private Limited (Corporate Debtor) was incorporated on July 30, 2008.
The Corporate Debtor availed Rs. 58.71 crores in financial facilities from a consortium including Bank of India and Bank of Baroda.
The Corporate Debtor's account was classified as Non-Performing Asset (NPA) by lenders on March 31, 2019.
Bank of India filed a petition under Section 7 of the IBC, 2016, against the Corporate Debtor on June 7, 2023.
The CIRP against the Corporate Debtor commenced on November 13, 2024.
Ms. Chaya Gupta was initially appointed as the Interim Resolution Professional (IRP) on November 13, 2024.
A Public Announcement in Form-A was issued by the IRP on November 16, 2024.
The Committee of Creditors (CoC) was constituted on December 5, 2024.
…M/s Shree Geeta…
The Corporate Debtor's account was classified…
Sign in to view related legal provisions.