State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against SU Toll Road Private Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP). The application was based on a default of INR 358,69,53,434.17/-.
State Bank of India (SBI) filed an application under Section 7 of the IBC against SU Toll Road Private Limited.
The claimed default amount is INR 358,69,53,434.17/-.
The Corporate Debtor is engaged in the business of implementation, operation, and maintenance of road projects.
The Corporate Debtor was awarded a project on a Build, Operate and Transfer (BOT) basis on National Highway No. 68 in Tamil Nadu.
The original lenders, L&T Infrastructure Finance Company Limited (LTIFL) and L&T Fincorp Limited (LTFL), sanctioned a total loan amount of INR 588 crores to the Corporate Debtor.
The original lenders novated part of the facilities amounting to INR 475 crores to various banks, including SBI.
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State Bank of India filed an application under…
SBI issued a Demand…
State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against SU Toll Road Private Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP). The application was based on a default of INR 358,69,53,434.17/-.
State Bank of India (SBI) filed an application under Section 7 of the IBC against SU Toll Road Private Limited.
The claimed default amount is INR 358,69,53,434.17/-.
The Corporate Debtor is engaged in the business of implementation, operation, and maintenance of road projects.
The Corporate Debtor was awarded a project on a Build, Operate and Transfer (BOT) basis on National Highway No. 68 in Tamil Nadu.
The original lenders, L&T Infrastructure Finance Company Limited (LTIFL) and L&T Fincorp Limited (LTFL), sanctioned a total loan amount of INR 588 crores to the Corporate Debtor.
The original lenders novated part of the facilities amounting to INR 475 crores to various banks, including SBI.
…State Bank of India filed an application under…
SBI issued a Demand…