AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2018 (4) TMI 1748
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....manufacturing M Cotton Fabrics and shirting at Bharuch Unit. It has a Weaving Unit at Dewas. One more unit is for spinning and weaving at Balghar. In one of the report the 3ank has narrated the background of the Debtor Company as under:- 4. The dank has further narrated the background of the company in one another report as under :- 5. The bank has also recorded an overview of textile industry as under:- 6. According to the Petitioner after satisfying itself with the business model of the company loan facilities were ganted and in short the date wise details of the loan are as under :- 7. On 8tn May 2013 the Debtor had issued a "revival letter" to Bank cf India Nariman Point Mumbai being Leader Consortium and requested therein that the facility granted as pec working capital Consortium agreement dated 16th October 1998 and thereafter modified and' extended supplemental working capital consortium agreement dated 18th Nov. 1999.and serval other such Supplemental agreements be revived with an undertaking that the liability would, remain inforce as already agreed upon. All such letters and correspondence thug established that admittedly the loan liability was very much ....
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....r the above assignment. 16. Since the 'default' in repayments is established as mentioned supra the Petition deserves to be "Admitted". The IRP is hereby *appointed who shall act upon as prescribed under the provisions of section 13 of the Code by making a public announcement immediately hereafter within a period prescribed therein. The IRP so appointed shall also comply with the provisions of section 15 onwards of The Code and collate all the claims submitted by other Creditors by constituting a "Committee' of Creditors". We hereby direct the IRP to inform the progress of the Resolution Plan along with a compliance report Within 30 days on receipt of this Order. However, a liberty is hereby granted progress even at early date, if need be. 17. Once the Petition is held as fit for "admission", hence as a consequence the "Moratorium" as prescribed under section 14 Shall commence henceforth. On enforcement of Moratorium certain prohibitions are applicable, such as institution of any Suit before a Court of Law, transferring of any Asset of the Debtor, encumbering any rights over the assets of the Debtor. However, it is also Clarified that the supply of essential goods....
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....ear Dewas (Madhya Pradesh), from Standard Industries Limited. " Document 4 5. Kumars Group was founded in 1945 by Shan Aliyakumar Kashiwal and Stat Sharnbrukumar Kashiwal by establishing textile distribution network and subsequently commencing textile manufacturing activities. The Company has incorporated as a private limited company on 25 September, under the Companies Act, 1956 and has become a decined Public Company under Section 13 (1) w.2. 28 February 1991. The Company has become a simplicitor public Company, vide special Resolution passed on 7 July 1992 and fresh certificate of change of name as issued on 28 September 1993, is engaged in the business of trading in synthetic/blended fabrics.. With a new to meet the growing demand for its product, S. Kumars Synlabs Ltd. has acquired shuttleless looms and other plant from S. Kumar Enterprises (Synfabs) Ltd. and is installing further shutdeless looms and other equipment at Dewas and setting up texturizing and twisting plant at Pithampur in Madhya Pradesh Kumors Synlabs Ltd. was promoted keeping in mind the S. Kuriers Group overall corporate strategy and given object....
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.... ambassador for an undisclosed sum to mark their entry into the readymade apparel market. Chennai High Court has, through an interm injunction, prevented S Kumars from using the brand name 'Cinnamon S. Kumars Synfabs Ltd. has appointed Andersen Consulting to review its product portfolio in different market segments and maximize the company's strengths in marketing brand building and brand creation. 5. Kurnar's Synlabs, has been forced to launch a new ready-to-wear brand. Document 6 पतीविधी COMPANY अधिकरण LAW TRISINGL 4.1 Background: India is the one of the world's largest producers of textiles and garments. Abundant availability of raw materials such as coxton, wool, silk and jule as well as skilled workforce have made the country a sourong hub, it is the world's second largest producer of textiles and garments. The Indian textiles industry accounts for about 24% of the world's spindle capacity and eight per cent of global rotor capacity. The potental size of the Indian textiles and apparel industry is expected to reach US$ 223 billion by 2021. The textiles i....
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....Corporate Guarantee Agreement executed by Anjan Finvest Private Limited in favour of Financial Creditor with respect to Rupee Term Loan Agreement. Agreement of Pledge of Shares executed by and between Financial Creditor & Anjani Finvest Pvt. Ltd and others in favour of Financial Creditor with respect to Rupee Term Loan Supplemental Joint Deed of Hypothecation by way of Second Pari Passu charge on current assets. Copies of Memorandum of Entries dated + . 22 April 2010, Sept 2010, 9 April 2011, "July 2011. 11º July 2011, 21 Sept 2011, 11 Oct 2011, and 10 June 2012 Deed of Hypothecation executed by and between the Company and Financial Creditor with respect to increase in financial assistance to the extent of additional Rub Terin Loan Facility of Rs. 18 Crores by way of a first charge by way of hypothecation of brand "Bermont" by the hypothecator Copy of Declaration and Undertaking with respect to Mortgage by deposit of title deeds by the Company with IDBI Trusteeship Services Ltd acting as Security Agent for the Financial Creditor. Working Capital Facility Agreement dated 29" Dec 2012 executed by a....