Canara Bank, a Financial Creditor, filed an application under Section 7 of the IBC to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Citron Infraprojects Limited, the Corporate Debtor. The Corporate Debtor had provided corporate guarantees for credit facilities availed by the Principal Borrower, M/s Shrivallabh Pittie Industries Ltd. The total default amount claimed was Rs. 119,64,40,125.82.
Canara Bank, the Financial Creditor, filed C.P. (IB) No.1225/MB/2025 under Section 7 of the IBC on 05.11.2025.
The application was filed for initiating Corporate Insolvency Resolution Process (CIRP) against M/s Citron Infraprojects Limited, the Corporate Debtor.
The application was affirmed by Mr. Dheerendra Kumar Chaudhary, authorised signatory of Canara Bank, vide a Letter of Authority dated 02.09.2025.
The amount claimed to be in default is Rs.119,64,40,125.82 as of 31.08.2025.
The Principal Borrower, M/s Shrivallabh Pittie Industries Ltd., is a company incorporated under the Companies Act, 2013.
The Corporate Debtor, M/s Citron Infraprojects Ltd., executed Corporate Guarantees in favour of Canara Bank and other consortium lenders.
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A Term Loan facility of Rs. 275 Crores was…
A Deed of Corporate…
Canara Bank, a Financial Creditor, filed an application under Section 7 of the IBC to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Citron Infraprojects Limited, the Corporate Debtor. The Corporate Debtor had provided corporate guarantees for credit facilities availed by the Principal Borrower, M/s Shrivallabh Pittie Industries Ltd. The total default amount claimed was Rs. 119,64,40,125.82.
Canara Bank, the Financial Creditor, filed C.P. (IB) No.1225/MB/2025 under Section 7 of the IBC on 05.11.2025.
The application was filed for initiating Corporate Insolvency Resolution Process (CIRP) against M/s Citron Infraprojects Limited, the Corporate Debtor.
The application was affirmed by Mr. Dheerendra Kumar Chaudhary, authorised signatory of Canara Bank, vide a Letter of Authority dated 02.09.2025.
The amount claimed to be in default is Rs.119,64,40,125.82 as of 31.08.2025.
The Principal Borrower, M/s Shrivallabh Pittie Industries Ltd., is a company incorporated under the Companies Act, 2013.
The Corporate Debtor, M/s Citron Infraprojects Ltd., executed Corporate Guarantees in favour of Canara Bank and other consortium lenders.
…A Term Loan facility of Rs. 275 Crores was…
A Deed of Corporate…