Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP). The claimed default amount is Rs. 346,83,19,536.66.
Canara Bank filed an application under Section 7 of the IBC against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited.
The claimed default amount is Rs. 346,83,19,536.66.
The Corporate Debtor is a Special Purpose Vehicle (SPV) incorporated by Supreme Infrastructure India Limited (SIIL) for executing a four-laning project.
The Corporate Debtor approached various banks and financial institutions for credit facilities aggregating to Rs. 247.50 crores.
The date of default stated by the Applicant is 30.04.2017, and the account was declared as NPA on 30.07.2017.
The Corporate Debtor argued that the repayment obligation was contractually shifted to an arbitral award.
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Supreme Best Value Kolhapur (Shiroli) Sangli…
Common Loan Ag…
Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP). The claimed default amount is Rs. 346,83,19,536.66.
Canara Bank filed an application under Section 7 of the IBC against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited.
The claimed default amount is Rs. 346,83,19,536.66.
The Corporate Debtor is a Special Purpose Vehicle (SPV) incorporated by Supreme Infrastructure India Limited (SIIL) for executing a four-laning project.
The Corporate Debtor approached various banks and financial institutions for credit facilities aggregating to Rs. 247.50 crores.
The date of default stated by the Applicant is 30.04.2017, and the account was declared as NPA on 30.07.2017.
The Corporate Debtor argued that the repayment obligation was contractually shifted to an arbitral award.
…Supreme Best Value Kolhapur (Shiroli) Sangli…
Common Loan Ag…