Corporate Insolvency Resolution Process

SVP GLOBAL TEXTILES LIMITED (Formerly known as SVP Global Ventures Limited) 97, Maker Tower ‘F’ Cuffe Parade, Mumbai – 400 005. Tel.: 4029 0011 Fax: 4029 0033 Email: contact@pittie.com CIN: L17290MH1982PLC026358 Website: www.svpglobal.co.in Date : September 04, 2026 The BSE Ltd. The Listing Department Phiroze Jeejeebhoy Towers, The National stock Exchange of lndia Ltd. Dalal Street, Mumbai - 400 001 Exchange Plaza, C- 1, Block-G, Fax No.: 022 22722041 Bandra - Kurla Complex, Bandra – (E) , Company Code: 505590 Mumbai- 400 051 Fax No.: 022-26598237/38 Company Code: SVPGLOB Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Admission of Corporate Insolvency Resolution Process ("CIRP") against Subsidiary Company Dear Sir/Madam, Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Hon’ble National Company Law Tribunal, Mumbai Bench-VI (“NCLT”), vide its order pronounced on September 03, 2026, in C.P. (IB)/263(MB)2026 , has admitted the application filed by Canara Bank Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) and initiated the Corporate Insolvency Resolution Process (“CIRP”) against Shrivallabh Pittie Enterprises Private Limited,(“Corporate Debtor”) a subsidiary of the Company. The application was filed by Canara Bank Limited, the Financial Creditor, alleging default of ₹75,93,98,670.05/- (Rupees Seventy-Five Crore Ninety-Three Lakh Ninety-Eight Thousand Six Hundred Seventy and Five Paise only), as recorded in the NCLT order. The date of default mentioned in the application is March 13, 2023. The Hon’ble NCLT, inter alia, has: 1. Admitted the application under Section 7 of the IBC and initiated CIRP against the Corporate Debtor; 2. Declared a moratorium under Section 14 of the IBC; 3. Appointed Mr. Sunil Kumar Kabra, having Registration No. IBBI/IPA-001/IP-P-01011/2017- 18/11662, as the Interim Resolution Professional (“IRP”); 4. Directed that during the CIRP period, the management of the Corporate Debtor shall vest in the IRP in accordance with the provisions of the IBC; and 5. Directed the making of public announcement of the CIRP and inviting of claims in accordance with the provisions of the IBC and applicable regulations. SVP GLOBAL TEXTILES LIMITED (Formerly known as SVP Global Ventures Limited) 97, Maker Tower ‘F’ Cuffe Parade, Mumbai – 400 005. Tel.: 4029 0011 Fax: 4029 0033 Email: contact@pittie.com CIN: L17290MH1982PLC026358 Website: www.svpglobal.co.in The Hon’ble NCLT has further observed that, at the stage of admission, the amount claimed in the application has not been crystallised and the same shall be verified and collated by the IRP in accordance with the provision of the IBC. The Company is monitoring the developments in the CIRP proceedings and will make further disclosures to the Stock Exchanges as and when required in accordance with the applicable provisions of the SEBI LODR Regulations. A copy of the Hon’ble NCLT order dated September 03, 2026 is enclosed herewith for information and record. You are requested to take the above information on record. Thanking you, Yours Faithfully, For SVP GLOBAL TEXTILES LIMITED Gopal Lohia Director DIN : 09563931 NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH COURT VI Item No. Pl C.P. (IB)/263(MB)2026 CORAM: SHRI SAMEER KAKAR SHRI NILESH SHARMA HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL) ORDER SHEET OF HEARING (HYBRID) DATED 03.09.2026 NAME OF THE PARTIES:- The Canara Bank Limited Shrivallabh Pittie Enterprises Private Limited Under Section 7 of the IBC ORDER The case is fixed for pronouncement of the order. The order is pronounced in the open court, vide separate order. Detailed order is being uploaded on the NCLT portal today. Sd/- Sd/- NILESH SHARMA SAMEER KAKAR MEMBER (JUDICIAL) MEMBER (TECHNICAL) //Sumant// IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH C.P. (IB)/263/MB/2026 [Under Section 7 of the Insolvency and Bankruptcy Code, 2076 r/w Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016] The Canara Bank Limited [PAN: AAACU6160G] Stressed Assets Management Branch, Canara Bank, Circle Office Building, 8" Floor, B Wing , C-14 , G-Block Bandra Kurla Complex, Bandra East, Mumbai, 400051 ...Financial Creditor SHRIVALLABH PITTIE ENTERPRISES PRIVATE LIMITED [CIN No. U52100MH2013PTC242864] 97,Maker Tower, ‘F’, Cuffe Parade, Mumbai - 400005 ...Corporate Debtor Pronounced: 03.09.2026 CORAM: HON’BLE SHRI NILESH SHARMA, MEMBER (JUDICIAL) HON’BLE SHRI SAMEER KAKAR, MEMBER (TECHNICAL) IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI Appearances: Hybrid For Applicant: Adv. Mr. Bharat Siddhapura , Adv. Mr. Roshan Gaud a/w. Adv. Mr. Tejas Singhi/o ORBIT LAW SERVICE For Respondent: Ex-parte ORDER [PER: CORAM] 1. BACKGROUND 1.1.C.P. (IB) No.263/MB/2026 (Application) was filed on 09.03.2026 by Canara Bank, the Financial Creditor (FC), having PAN: AAACU6160G 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, for initiating Corporate Insolvency Resolution Process (hereinafter referred to as “CIRP”) in respect of M/s Shrivallabh Pittie Enterprises Private Limited, the Corporate Debtor having CIN No. U52100MH2013PTC242864. 1.2.This Application has been affirmed by one Mr. Dheerendra Kumar Chaudhary, authorised signatory of the Applicant, authorised vide letter of Authority dated 02.09.2025 1.3.As per Part IV of the Application, the amount claimed to be in default is Rs.75,93,98,670.05/- (Seventy-Five Crore Ninety-Three Lakh Ninety- Eight Thousand Six Hundred Seventy And Five Paise Only). 1.4.As per Part IV of the Application the date of default is stated as 13.03.2023. 2 | Page CP(IB)/263/MB/2026 THE CANARA BANK LIMITED V/S SHRIVALLABH PITTIE ENTERPRISES PRIVATE LIMITED IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI 1.5. The Applicant has proposed the name of Mr.Sunil Kumra Kabra , an Insolvency Professional , having Registration No. IBBI/IPA-001/IP- P01011/201 7-2018/11662, to act as the Interim Resolution Professional (IRP) (having valid Authorisation for Assignment up to 30.06.2027) (as per IBBI site), in case the Application is Admitted. 2. CONTENTIONS OF APPLICANT (FC) 2.1. The Applicant states that the Principal Borrower, M/s Shrivallabh Pittie South West Industries Limited, is a company incorporated under the provisions of the Companies Act, 2013. The Corporate Debtor, M/s Shrivallabh Pittie Enterprises Private Limited, has executed Corporate Guarantees in favour of the Applicant Bank and other consortium lenders, thereby guaranteeing due repayment of the credit facilities availed by the Principal Borrower. 2.2.\t is stated that the Principal Borrower was sanctioned consortium credit facilities aggregating to Rs.410 Crores (Rs.160 Crores towards Term Loan + Rs. 250 Crores towards Working Capital Facilities) by various banks and financial institutions . 2.3.Subsequently, the Financial Creditor sanctioned Working Capital facilities of Rs.30 Crores vide Sanction Letter dated 16.01.2018 and executed the Working Capital Consortium Agreement dated 25.01.2018. 2.4.During the pandemic period, additional facilities under GECL were granted, including Rs. 5.93 Crores (GECL) and Rs. 3.17 Crores (GECL 2.0 Extension) by the Financial Creditor. 3 | Page CP(IB)/263/MB/2026 THE CANARA BANK LIMITED V/S SHRIVALLABH PITTIE ENTERPRISES PRIVATE LIMITED IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH-VI 2.5.To secure the repayment of the said facilities, the Corporate Debtor executed a Corporate Guarantee dated 07.03.2022 in favour of the Financial Creditor, pursuant to a Board Resolution. 2.6.The Principal Borrower committed persistent defaults in repayment of dues, and its account was classified as Non-Performing Asset (NPA) on 11. [Showing first 8,000 characters — download PDF for full document]