Sachetna Finance Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shroff Textiles Limited (Corporate Debtor) due to an alleged default in repayment of a financial debt amounting to Rs. 6,32,50,000/- (principal). An earlier application was dismissed because it included defaults falling within the Section 10A moratorium period. The current application was filed after excluding these amounts, as per the liberty granted by the Tribunal.
C.P. (IB) No.304/MB/2026 (Application) was filed on 23.03.2026 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Sachetna Finance Private Limited (Financial Creditor) initiated CIRP against M/s Shroff Textiles Limited (Corporate Debtor) for an alleged default in repayment of financial debt of Rs. 6,32,50,000/- (principal amount).
The date of default, as given in Part IV of the Application, is 27.06.2023.
Mr. Hemant J. Mehta was proposed as the Interim Resolution Professional (IRP).
The Financial Creditor disbursed various loan amounts to the Corporate Debtor between October 11, 2018, and June 27, 2022, totaling Rs. 6,32,50,000/- (principal).
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Sachetna Finance Private Limited and Shroff…
The Corporate Debtor…
Sachetna Finance Private Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Shroff Textiles Limited (Corporate Debtor) due to an alleged default in repayment of a financial debt amounting to Rs. 6,32,50,000/- (principal). An earlier application was dismissed because it included defaults falling within the Section 10A moratorium period. The current application was filed after excluding these amounts, as per the liberty granted by the Tribunal.
C.P. (IB) No.304/MB/2026 (Application) was filed on 23.03.2026 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Sachetna Finance Private Limited (Financial Creditor) initiated CIRP against M/s Shroff Textiles Limited (Corporate Debtor) for an alleged default in repayment of financial debt of Rs. 6,32,50,000/- (principal amount).
The date of default, as given in Part IV of the Application, is 27.06.2023.
Mr. Hemant J. Mehta was proposed as the Interim Resolution Professional (IRP).
The Financial Creditor disbursed various loan amounts to the Corporate Debtor between October 11, 2018, and June 27, 2022, totaling Rs. 6,32,50,000/- (principal).
…Sachetna Finance Private Limited and Shroff…
The Corporate Debtor…