The Corporate Insolvency Resolution Process (CIRP) for Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited ("Corporate Debtor") was initiated based on a Section 7 application filed by Canara Bank. Mr. Rajesh Jhunjhunwala was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional (RP). The CIRP period was extended twice, ultimately expiring on July 21, 2026. Despite receiving eleven Expressions of Interest and four Resolution Plans, none of the plans received the requisite approval from the Committee of Creditors (CoC). Following this, the CoC, in its 12th meeting, unanimously resolved to seek restoration of the CIRP under the newly inserted Section 33(1A) of the Insolvency and Bankruptcy
…IA(I.B.C)/3054(MB)2026 was filed by Mr. Rajesh Jhunjhunwala, Resolution Professional of Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited.
The application sought restoration of the Corporate Insolvency Resolution Process (CIRP) and exclusion of 120 days from the CIRP period under Section 33(1A) of the Insolvency and Bankruptcy Code, 2016.
The CIRP of the Corporate Debtor was initiated via an Insolvency Commencement Order dated August 25, 2025, based on a petition filed by Canara Bank.
Mr. Rajesh Jhunjhunwala was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional by the CoC with an 84.84% voting share.
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Arbitration Award dated June 2022 amounting…
Insolvency Commencement Order passed,…
The Corporate Insolvency Resolution Process (CIRP) for Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited ("Corporate Debtor") was initiated based on a Section 7 application filed by Canara Bank. Mr. Rajesh Jhunjhunwala was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional (RP). The CIRP period was extended twice, ultimately expiring on July 21, 2026. Despite receiving eleven Expressions of Interest and four Resolution Plans, none of the plans received the requisite approval from the Committee of Creditors (CoC). Following this, the CoC, in its 12th meeting, unanimously resolved to seek restoration of the CIRP under the newly inserted Section 33(1A) of the Insolvency and Bankruptcy
…IA(I.B.C)/3054(MB)2026 was filed by Mr. Rajesh Jhunjhunwala, Resolution Professional of Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited.
The application sought restoration of the Corporate Insolvency Resolution Process (CIRP) and exclusion of 120 days from the CIRP period under Section 33(1A) of the Insolvency and Bankruptcy Code, 2016.
The CIRP of the Corporate Debtor was initiated via an Insolvency Commencement Order dated August 25, 2025, based on a petition filed by Canara Bank.
Mr. Rajesh Jhunjhunwala was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional by the CoC with an 84.84% voting share.
…Arbitration Award dated June 2022 amounting…
Insolvency Commencement Order passed,…