SVP Global Textiles Subsidiary Enters CIRP After ₹75.94 Crore Canara Bank Default

NCLT admitted Canara Bank’s Section 7 IBC petition against subsidiary Shrivallabh Pittie Enterprises, citing a claimed default of ₹75.94 crore. A moratorium was imposed, management vested in IRP Sunil Kumar Kabra, and claims will be verified and collated. Context: expands the group’s existing CIRP overhang.